A very strong ISM Services PMI and a surprisingly positive employment report that included a gain of 278k new nonfarm jobs highlighted a stellar week of US economic data. The S&P 500 made a new all-time high while at the same time the US 10 year treasury yield fell to its lowest level ever. The dollar index saw a gain of almost 0.7%. Oil prices fell abruptly while the US rig count continued to climb now to 440, only 1571 rigs below the 2011 high.