Wall Street fell back sharply following the publication of a much stronger-than-expected NFP (30,000 more jobs than the consensus forecast, with a total of +256,000, against a backdrop of unemployment falling unexpectedly to 4.1%).
The Dow Jones fell by 1.60%, the S&P500 by 1.55%, the Nasdaq by 1.63% and the Russell-2000 by -2.32%.
After weeks of ignoring interest-rate tensions, it would appear that a milestone has been reached, with T-Bonds yields soaring above 4.70%.
The yield on the '10-year' has rocketed +7pts to 4.75%... the '30 yr' by +3.5pts to 4.9500%, after having tested the symbolic 5.000% mark (4.999%) in intraday trading.

Yields fell back slightly following the release at 4pm of US household confidence figures: the monthly survey by the University of Michigan showed a worse-than-expected deterioration in January.

Its confidence index fell to 73.2 from 74 last month, while economists and analysts were forecasting a more limited decline to 73.9.

While the consumer assessment of their current situation improved to 77.9 from 75.1 the previous month, the outlook component fell to 70.2 from 73.3 in December.

The UMich explains this deterioration by their concerns about price trends, with inflation expectations over a 12-month horizon standing at +3.3% versus +2.8% last month.

The Nasdaq-100 was led by the fall of ON-Semiconductor (-7.5%), Paypal (-5.2%), AMD (-4.8%), Nvidia (-3%) and Apple (-2.5%).... and the 'SOXX' index fell by -2.4%.
Note the plebiscite for Constellation Energy's takeover of Calpine, which soared by +25% to set a new all-time record at $305

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