Today's employment numbers were a BIG miss. The street was expecting +130,000 in nonfarm payroll employment (http://briefing.com/) and only got +39,000 (BLS).
Sooo the market had a HUGE selloff, right? WRONG.
This is the era of the Bernanke put. A bad employment number means more money will be printed. Look at the dollars reaction, down over 1 percent on the news. This market loves a weak dollar; today should have been a BAD down day-instead the market remains virtually unchanged. Eventually it will get to the point where the market will no longer to be able to rally on a weak dollar, but until then...
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