"This jobs report is truly disappointing even after accounting for Verizon strikes. It gives a lot of ammunition for the Fed to wait longer before raising rate and certainly puts in doubt a rate hike in June," Igy in a note. "So far, the market is taking the bad news as bad news. More importantly the market is increasingly aware that Janet Yellen and other central bankers are in a Pandora's Box of their own creation, " added Igy.
"Odds of a June rate hike diminished but the Fed might still do something less conventional, like a smaller, 12.5 basis point increase, but the Fed is powerless to stop what appears to be a US and global economic slowdown," said Igy.