The NFP surprised to the upside but markets rallied anyway?

Things are not always as they appear, and then some...

The Non-Farm Payrolls Report was released last Friday with job creation surprising to the upside. Whereas the consensus was for an increase of 200K jobs, we actually saw it grow by 223K jobs. But why did the market rally?

Even though payrolls came in 10.3% greater than expected, they were still lower than last month’s downwardly-revised 256K jobs. So, an…