Markets Ignore Solid September Job Gains

The September unemployment rate dropped below 8%, +661k jobs returned to company payrolls, and prior month revisions added another +145k to the July/August payroll count, but global financial markets are focusing their attention on the health of President Trump and the First Lady, who both tested positive for COVID-19 early this morning. The announcement adds even more uncertainty to what was already expected to be an unprecedented and contentious election. Equities are down sharply in early trading, while bond yields are slightly lower.

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