THE JOBS REPORT JUST BLEW PAST EXPECTATIONS, AND SPOOKED THE MARKET

The US added 162,000 jobs in August, three times the 53,000 expected. Normally strong hiring is good news, but not now: it slammed the door on rate cuts and pushed the odds of a Fed hike higher. Stocks fell, bond yields hit multi-year highs, and Trump threatened to cut off trade with countries if the Fed won't cut rates.