Huge Payrolls Miss: Non-Farm Payrolls Come in at 160k, Well Below Estimate of 207k

You’re just gonna have to give recession a chance. On the bright side, because the economy is in the tank, missing payroll data by huge amounts, corporate earnings missing largess, the Fed should be on hold for a June rate hike.

Futures are diving lower. Let me remind you of the mental instability of Fed’s Mester and Williams. Those sick bastards might still advocate Fed rate hikes into the teeth of a deleterious recession. After all, it is by design that the economy tanks before each new President.