BINARY Core Meltdown Phase. NO WAY OUT.

Either yields keep rising, monkey hammering eight years of accumulated global ponzi debt, dividend stocks, real estate, Muni bonds, Emerging Market currencies, and the entire Nasdaq growth complex which had extrapolated a 0% discount rate into infinity...

OR,

Human history's most crowded cyclical "reflation" trade unwinds violently... 

"Economists expect that hiring picked up and the economy added 175,000 jobs in November, but markets are bracing for an even higher number, north of 200,000."

"That's the buzz," said Art Cashin, director of floor operations at UBS. It was also the speculation in the bond market Thursday, where traders used the Friday jobs report as part of an excuse to sell, driving interest rates sharply higher. Cashin said there's speculation that weather-related hits to hiring in October may create a stronger-than-expected spring-back in November."

The irony that a "too hot" jobs report could implode this entire Ponzi scheme can't possibly be overlooked...

One year Treasury yield (red) with % of S&P 500 above 200 dma:

Utilities

Consumer staples

And, if the number is weak, then this unwinds. Again...

USDJPY carry with Financials:

This ludicrous nonsense...

JP Morgan