Crumbs For Doves

My guess would be September's US labor market report, released on Friday, will be remembered as "peak jobs" for this cycle. That's not to suggest a recession is imminent, it's just to say the labor market is typically a lagging indicator and even if you're overtly upbeat on the economy, you'll surely concede that 5% rates (and long-end yields) are a headwind. Worn out and clichéd as they are, narratives around diminished savings buffers, drag from the resumption of student loan payments for mi