The market is beyond jittery. In fact, I think Axios got it right with this headline (below). The JOLTs report is far from a job or economic harbinger. Moreover, this report saw quits (the most important component) and actual hiring unchanged.
The report is too old. Few even bother to complete the survey to have the impact that is having today on the market.
Bond yields did pop on the news, and of course the market is down. This is about fraying emotions and a lack of trust in the Federal Reserve to engineer a soft landing, and frustration with the federal government that would stop spending.
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