When good is bad – Non-Farm Payrolls 2019-07

It's one of the stranger times when a better than expected report leads to an equity market sell off, and USD strength.

The logic is indirect (better economy = less chance of rare cut = bad for stocks) but it's interesting how market participants usually only focus on one narrative and ignore the others, such that price action is decisively in one direction instead of a mixed response.

For further study, it would be interesting to look through historical payroll reports and the corresponding price action.