Stronger-than-expected jobs report may be 'perversely' negative for stocks: barclays


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Friday's nonfarm-payrolls report for May, which will come after a string of other data pointing to weakening economic momentum, may get some unexpected reactions from traders when it


lands. That's according to Julien Lafargue, chief market strategist at Barclays Private Bank. Ahead of the jobs report, "expectations have been reset lower and a reading of around


100,000 (vs. the 125,000 expected by the consensus) could fall in the 'not-as-bad-as-feared'" camp, Lafargue said in an email. The strategist added: "Anything below the


100,000 mark could reignite recession fears, while a stronger-than-expected print could perversely be negative for risk assets as it would likely put upward pressure on yields."