MGC's reaction to recent jobs data and its implications

The way $MGC has been holding up around the 269.78 mark despite the hotter-than-expected jobs numbers is interesting. Usually, you'd expect a stronger reaction given the renewed rate hike concerns, but it's been surprisingly resilient. It dipped slightly but rebounded quickly, suggesting underlying demand is still present, or perhaps the market is already pricing in a certain level of hawkishness. This makes me wonder if a significant move lower would require more than just strong employment figures.

My watchlist is now reflecting a bit more caution on shorting duration. I'm keeping an eye on the 271.45 upper bound for MGC; a clear break there could signal a re-evaluation of the rate outlook. Conversely, a sustained break below 269.03 would confirm the market's acceptance of higher for longer, but we're not seeing that conviction just yet.