"While I didn't want to panic alongside the crowd and sell Munis at those DEC lows, I'd get rid of the last of what you have on this recent 5-6 week bounce," Hedgeye CEO Keith McCullough wrote earlier today.
"Mr. Macro Market is reading today's Jobs Report as A) wages accelerating and B) potential for #NFPSlowing to slow at a slower rate (and maybe re-accelerate)," McCullough continues. "That's bad for long-term bonds, Gold, etc. Bullish for the US Dollar, Higher Beta and Cyclical Stocks, etc."
