Resilient Goldilocks Meme Bedevils Pessimists

If job openings overshot in this week's closely-watched JOLTS report, an upbeat read on services activity in the US might've been amenable to a "good news is bad news" trade. But job openings didn't overshoot. There were far fewer vacancies on the last business day of October than economists expected, opening the door to a Goldilocks interpretation of a slightly warmer-than-anticipated ISM services print. At 52.7, the headline was marginally ahead of estimates. Consensus was 52.3. The range of