The first Job's Day in 'merica for 2024. Consensus is calling for headline payroll increase of +175K and unemployment rate ticking up to 3.8%.
Yesterday: ADP better than expected, jobless claims lower than expected, EU inflation hotter than expected. The 10Y yield trades back to 4% yield. We'll see what today's Job's report shows.
XTOD: When I grow up I want to be an uncorrelated asset.
XTOD: Pre-Payrolls Options Wager Targets 4.15% 10-Year By Friday Close: BBG
XTOD: I don't understand how anyone can justify rate cuts with initial claims close to 50 year lows
XTOD: This seems like a phenomenon crying out for explanation. It's been 20 years since a majority of Americans have said they’re satisfied with the way things are going—a drought with no precedent in modern polling. And it's worse now then ever. via @bpmehlman's new annual deck
https://x.com/tracyalloway/status/1742901751416541276?s=20
https://x.com/zerohedge/status/1742988917236973992?s=20
https://x.com/DannyDayan5/status/1742905854725107920?s=20
https://x.com/DKThomp/status/1742926035241615623?s=20
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