Did Everything Change Earlier This Month?

"It will likely take a few months for the true underlying trends to emerge." That's a quote from Morgan Stanley's Vishwanath Tirupattur. He wasn't talking about trends in unidentified aerial phenomena which, it seems, will likewise "take a few months" to sort out. Rather, Tirupattur was referring to trends in the US labor market, and the questions raised by the jobs report released on February 3. (Yes, analysts and strategists all over the world are still talking about US payrolls 10 days late