Jobs And Fireworks

It's a holiday week in the US, but it's also jobs week. So, anyone who bothers to check in on markets while they're on vacation will at least have some top-tier data to parse. NFP is obviously the headliner, but the update on job openings is crucial too. The last JOLTS report, you're reminded, showed vacancies rose back above 10 million, even as the quit rate fell. As ever, the viability of the soft landing narrative hinges on whether job openings come down without a sharp increase in the unem