DevelopingGlobal MacroUS jobs report . Fed rate hike odds . Bitcoin gold rallyHigh impactBy Kumar Singh13 views
Payrolls Crack at 29K, Fed Hike Bets Unwind and Bitcoin Reclaims $86K
The US added only 29,000 jobs in September against expectations near 90,000. Unemployment rose to 4.2% and annual wage growth slowed to 3%, the weakest since 2021. Odds of an October Fed hike dropped to roughly 16%, from 64% a week ago. Treasury yields and the dollar eased.
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Markets were bracing for a hike after a bond selloff drove yields to multi-year highs. The soft print flipped that. Bitcoin crossed $86,000, a level not seen since January. Gold rose nearly 1% toward $4,200/oz. Brent slipped below $100. Indian exchanges stay shut till Monday for Gandhi Jayanti.