Stu, the jobs report arguably could have been poorly received...

Stu, the jobs report arguably could have been poorly received because the median expectation among economists was for a bigger increase in joblessness from 3.7% to 3.9% (rather than to 3.8%). So the reported increase was smaller than expected, which could be seen as rates-negative. I think the market gave it a pass because total employment went backwards - and also because the market was short-term oversold and pretty determined to rally today irrespective of any data.