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Is The Excitement Over?
With allowances and respect for August payrolls' market-moving potential, equities felt inclined to settle down after a somewhat turbulent month.
In "Return Of The Melt-Up?" I wondered if the daily range of spot outcomes for US stocks was poised to compress. On the eve of the US jobs report, the answer was "yes." Markets were in wait-and-see mode.
Should the headline NFP print come in unequivocally hot or unequivocally cold, this brief missive could be antiquated by fireworks in both equities
With some brief quiet time, might as well think about what market has most conviction in, and what if those convictions are wrong.
The latest BAML FMS is always a good start.