Chris Vecchio went into the jobs report positioned for higher yields, read the number, and turned the other way on air. His reasoning is worth following: strong employment data raises the odds of a hike, and a hike is exactly what would calm the inflation worry sitting in the long end of the curve. Alongside that, speculative positioning against long dated treasuries is about as stretched as it has been in years. As he puts it, none of that guarantees a short covering rally, but the kindling certainly exists. Five Minute Futures is sponsored by CME Group. Education, not a recommendation. 📊 tastylive: tastylive.com 📰 Get Tom's pre-market analysis every morning: tastylive.com/newsletters 📘 FREE Options Strategy Guide: tinyurl.com/bp9ms763 📱 Follow tastylive on X: x.com/tastyliveshow Chapters 0:00 The question behind the trade 0:34 Setting strikes from the chart 1:13 What the positioning report shows 1:47 Why the jobs report changed it 2:20 ...