Here’s What Markets Are Betting On

Here’s What Markets Are Betting On

A dramatically bad US jobs report barely moved the needle for US equities, which managed another weekly gain despite evidence of a sharp deceleration in hiring. You could (very plausibly) argue that, in fact, stocks held up because of that sharp deceleration. After all, the rapidity of stimulus unwind depends on the evolution of the labor market, and particularly the hard-hit leisure and hospitality sector, where jobs growth flatlined in August. In food services, 42,000 jobs were lost last mon
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2 thoughts on “Here’s What Markets Are Betting On

  1. The FOMC is headed into a horrendous whipsaw. The good news is it won’t kill them to wait until December to make an announcement. If they announce a “friendly” taper the market should be fine.

  2. The main trouble with FOMC and QE policy, is that it’s mighty hard to raise rates while still buying stuff. The concept of tapering is like going on a diet while buying a few dozen donuts. If anything, the policy of jawboning is a way to buy as much time as can be bought, but at this point there’s structural systemic damage that basically is unfixable.

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