New data from the Bureau of Labor Statistics shows the US economy added more jobs, but fewer than economists expected in February, while the unemployment rate grew to 4.1%, more than estimated.
RSM chief economist Joe Brusuelas and Interactive Brokers chief strategist Steve Sosnick join Morning Brief with Seana Smith and Madison Mills to examine the economic data as well as how investors are thinking about US President Donald Trump's policies and the impacts on the market and economy.
Brusuelas says that his clients have been asking about what the "rules of the road are going to be."
Sosnick adds that as the market's focus moves from the equity market to the bond market (^TNX, ^TYX, ^FVX), it may feel like Trump has "moved the goalposts," since many expected the president to be sensitive to stock market performance rather than Treasury yields as he was in his first term.
"The prior Trump administration was very focused on the stock market. Now, we're supposed to focus on bonds," the strategist says, adding "If you want bond rates lower, a bad economy will do that."
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Brusuelas notes, "We clearly are in a late cycle slowdown [and] we're having a classic growth scare." He explains, "That's not what you want to see ... therefore, they're going to have to, at one point in policy land, get out in front of this and say, 'here's what the rules of the road are,' and then they're going to have to stop.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
This post was written by Naomi Buchanan.