Rick Santelli on March Jobs Report and Yield Moves

March Jobs Report Impact

• 💡 The March jobs report was described as solid, but its impact was diminished by recent circumstances.
• ⚠️ A weaker report would have placed labor on a weaker footing, potentially having a more lasting effect.

Weekly Yield Performance

• 📈 The 2-year Treasury yield is down approximately 34 basis points on the week.
• 📈 The 10-year Treasury yield is down approximately 31 basis points on the week.
• 🗓️ These yield levels haven't been seen since late September for the 2-year and early October for the 10-year.

Dollar Index Movement

• 🚀 The dollar index is moving higher today, contrary to some predictions regarding tariffs.
• 📉 On the week, the dollar index is down about 1.8%, even with the current bounce.
• 🗓️ The dollar last closed at these levels around October 3rd, coinciding with the 10-year yield drop.

Market Relationships

• ✅ Many relationships between the dollar, interest rates, and differentials appear healthy.
• 🔍 Close attention should be paid to the closing prices of the euro currency and the yen, as they are major contributors to the dollar index's valuation.