Market Update- Rotation, Sort Of. Strong Oil Charts & Yields Rebounding Post Payrolls Presents Risk

Nonfarm payrolls increased by just 29,000, while revisions to July and August combined led to -60,000 fewer jobs than previously reported, and the unemployment rate ticked up from 4.1% to 4.2%. The report setup the 10-yr yield for consolidation, if not an outright pull back, and that sets the stage for the “unloved rotation” from…