The market really doesn't like this jobs report:
— The Kobeissi Letter (@KobeissiLetter) February 2, 2024
Base case forecasts now show 5 interest rate cuts in 2024, down from 6 prior to the report.
Odds of an interest rate cut in March just dropped to a fresh low of 20%.
There is also a rising ~30% chance that interest rate cuts do… pic.twitter.com/Mqvtj4j2Ry