The expected number was 310k, coming in light by 50k — which is boolish for an easier Fed. Last month the economy shed 33,000 jobs, so it’s clear to anyone with a fucking brain inside of their skull that the economy is doing well, but not too well.
The unemployment rate is a ridiculous 4.1%. Lots of burger flippers out there.
Restaurants added 88,500 jobs; offsetting September decline of 98,000 jobs.
— Jonathan Maze (@jonathanmaze) November 3, 2017
Futures took a liking to this variety of failure, slightly unticking after it was released. Nasdaq futs are +35. Bond yields were slightly higher, but now they’re down.
TLT had a good week.
As an aside, here are some details on Trump’s tax cut plan.
New details on GOP tax plan:
– No changes to 401k
– Ups standard deduction
– Establishes family credithttps://t.co/AaGaWfmODJ pic.twitter.com/pvKVbAwUB6— Bloomberg (@business) November 2, 2017
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Is there still anyone out there who takes the doctored, contrived, fake, goal-sought, embellished and massaged labor statistics seriously? Perhaps the stooopid HFT and AI (lol) vacuum tubes machines still do.
A new bull market is about to begin, BTFR!