Hard to get much of a clean read on markets in the wake of the employment report. US yields and stock prices are modestly lower while the dollar is rising against commodity currencies and falling against most others. Oil is having a very bad day, approaching $100 on WTI. Looks like risk-off is taking hold.

Clarity on the direction of the US economy’s direction is unlikely anytime soon, I’m afraid. Look to equities and bonds for direction. Lower stocvks and bond yields= risk-off.