Checking The Mechanics

The earliest of this week's trade on Wall Street was a bit difficult to parse, and indeed I doubt seriously the utility of parsing any one day's price action outside of sessions where there's a clearly identifiable catalyst. Stepping back from the mercurial day-to-day oscillations, there seems to be some agreement around a few things, one of which is the notion that Jerome Powell's avowed aversion to additional labor market softening -- any additional labor market softening -- means the Fed now