U.S.: The Big Bond Scare: It's Not In The NumbersBy
Wall Street can be a dangerous place when the markets get blindsided by unexpected economic data. That's what happened on Mar. 8, when word came that February payrolls had skyrocketed by 705,000 employees, twice as many as expected, and that the jobless rate had fallen from 5.8% to 5.5%. Panic-stricken traders could utter only a single word: sell. Everyone else waited on edge for sanity to take hold.
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