Good morning, you're listening to Markets Desk.
The May jobs report landed stronger than expected, and markets felt it immediately. The dollar index climbed to a one-and-three-quarter-month high, Treasury yields pushed upward, and speculation is now building that the Fed's next move could be a rate increase rather than a cut. Risk assets took the hit across the board.
That pressure was felt sharply in crypto, where Bitcoin cracked through sixty thousand dollars, falling to its lowest level since October of last year. The jobs data was the final weight on a week-long sell-off, as rising yields pulled capital away from speculative positions and reminded traders that the easy-money assumptions of earlier this year are far from guaranteed.
And speaking of speculative positioning, retail investors may be sitting on some uncomfortable exposure right now. May was the strongest month of the year for individual buying activity, with households piling heavily into semiconductor stocks. If that rally loses momentum — and the macro backdrop is not exactly supportive — it's everyday investors, not the institutions, who are likely holding the bag on the way down.
That's the tape. Markets Desk, signing off the floor.
