ADP-reports-big-miss-jobs-data-ahead-friday-payrolls-print
Like I have been saying for months. The govt. got them to suspend their report(they revamped their methodology) for a couple of months because Biden wanted to get the UE rate down to a record 3.5% and the FED wanted cover to be hawkish. The govt.numbers have been total bullshit for months. They will probably back off the level of ridiculousness going forward but only gradually, until after the election. Once again, ADP is much more credible and realistic to what is actually going on. The FED isn’t going to pivot anytime soon but maybe they will only go 50 instead of 75. The next set of inflation numbers will decide that. https://www.zerohedge.com/personal-finance/adp-reports-big-miss-jobs-data-ahead-friday-payrolls-print
If Luongo’s thesis is correct, the Fed may do 100 basis points.
Stick the knife deep into the beast.
I think CM is onto something here.
What the Fed plans and how the mkt reacts to ‘news’ are two different things.
Weak payrolls could lead mkt to hoping Fed pivots.
I see two weeks of optimism then the talking heads talk it back down.