US Jobs post another beat in October

US jobs in October posted another beat with 261,000 jobs created. This number came in ahead of economist expectations of 200,000. This would normally give rise to fears that the economy was on path for higher rates as it remained strong. This time around the critical unemployment rate ticked up to 3.7% which surprised markets and prompted speculation that job losses were starting to mount. This unemployment prompted a rally in equities and a sell off in the dollar as investors speculated that the FED would halt their rate hiking cycle early.