Federal Reserve Chairman Jay Powell ironically probably felt a tinge of relief upon seeing the non-farm payrolls number. Why? Because it gives him cover to continue the course the Fed has been pursuing of near-zero rates and copious asset purchases Minneapolis Governor and PIMCO veteran Neel Kashkari commented in the wake of the jobs number that now was absolutely not the time to be raising rates. He also poignantly added that he has ‘zero sympathy’ for Wall Street critics of the Fed. We sincerely hope from the bottom of our hearts that he didn’t hurt any of your feelings or dash your expectations for sympathy.

This is all pretty well and good for the Fed given that by many other signs other than today’s jobs report the Economy is well within the stride of re-opening. First quarter productivity rose 5.4% which blew away the expectations of only 4.3%. US junk-bond yields dropped to an all-time low of 3.88% on Monday. Spreads hit their tightest level in well over a decade at (+289 bps). While the Fed got an immediate reprieve because of the jobs report, inflation expectations and bond vigilantes are unlikely to make the Central Bank’s life easy over the coming quarters as the economy continues to get red hot.

The strong rally in credit continues across all buckets....
A FSI Macro, or FSI Pro subscription is required in order to access this content.

We accept crypto via BitPay for yearly subscriptions.

Choose one of our yearly plans to save nearly 15%

    • Macro + Crypto
      FSI Pro
      The Complete Package
      FSI Macro + FSI Crypto
      from
      $
      249
      /mo
      billed anually
      First Month Free!
    • Macro
      FSI Macro
      from
      $
      199
      /mo
      billed anually
      First Month Free!
      What's included?
      Real-time market commentary about macro and crypto events from our research heads.
      Webinars and Media
      Daily video commentary on market conditions & key events.
      We host over 12 LIVE webinars per year with our research team and high-profile special guests. Incredible value and market insights!
      Research
      Weekdays
      The best market research out there -- on a near-daily basis.
      On market events
      These are released periodically after crucial market developments.
      Daily
      Daily commentary on market trends and short term opportunities.
      Weekly
      Weekly update on developments in Washington DC and how they may impact Wall Street.
      Weekly
      Weekly summary of market events and updates on our key theses.
      Earnings season
      A multi-faceted update of earnings developments.
      Updated bi-weekly
      Highlights timely market themes and sectors with corresponding stocks, cutting through the day-to-day market “noise” for a distinct perspective.
      Stock Lists
      Updated quarterly
      Thematic investment stock picks that aim to outperform the S&P 500.
      Updated monthly
      A sector allocation strategy that is designed to outperform the S&P 500 while taking minimal risk.
      Updated monthly
      Technically derived, intermediate-term picks of attractive risk/reward opportunities from the S&P 500.
      And More!
      Our main goal is to make you a better investor! This series will guide you through key financial concepts and topics in an understandable way.
      We gather your inquiries and answer them in the most scalable way. Hear directly from our research principals!
      Get questions answered directly by our research heads and guest speakers.
      Get access to all the macro research on FS Insight
      First Month Free!
    • Crypto
      FSI Crypto
      from
      $
      99
      /mo
      billed anually
      First Month Free!
      What's included?
      Real-time market commentary about macro and crypto events from our research heads.
      Webinars and Media
      Ongoing webinars exploring crypto opportunities, in depth research, and exclusive research offerings from our team of analysts and leading cryptocurrency firms.
      Weekly
      Digestible videos expanding on important market events and metrics that are shaping cryptocurrency markets.
      Research
      Daily
      Stay on top of the crypto markets with macro commentary, technical analysis, and the most relevant news.
      Intra month
      Hear directly from Tom Lee about important cryptocurrency developments.
      Weekly
      From Bitcoin, Ethereum and Solana to other coins, our Head of Technical Strategy highlights important price movement to help give you an edge.
      Weekly
      A must-read summarizing our key thoughts about the crypto market, price action, and developing trends.
      Weekly
      Are you looking for investment opportunities in the crypto space? We explore early-stage crypto opportunities in this note about where the smart money is being invested!
      Intra-month
      Our consulting business delivers incredible deep research reports to highlight the economics and viability of exciting crypto projects.
      And More!
      Our main goal is to make you a better investor! This series will guide you through key financial concepts and topics in an understandable way.
      We gather your inquiries and answer them in the most scalable way. Hear directly from our research principals!
      Get questions answered directly by our research heads and guest speakers.
      Get access to all the crypto research on FS Insight
      First Month Free!
Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Don't Miss Out
First Month Free