Tonight's main trading theme should be stagflation. The February non-farm payroll data shocked the market. A slightly lower-than-expected number should have been good news, but it came in way below expectations, with employment not increasing but instead decreasing by 90,000. Naturally, the market is worried about a recession. Then Trump ruled out the possibility of reaching a short-term agreement with Iran (unless they surrender), so oil prices are bound to keep rising, and the market is also concerned about inflation climbing again. All of this combined means we're trading stagflation.