Last jobs report of Sleepy Joe’s tenure is a kaboom.
The report paints the picture of a very healthy job market. The jobs report caught the markets by surprise and there is a major sell off underway today. A healthy job market means less leeway for rate cuts.
Sidebar: insurance stocks are getting blasted.
“The US economy added over 250,000 jobs in the month, while the unemployment rate fell to 4.1%. That's the good news. The less good news is that the strong reading could prompt the Fed to keep rates higher for longer, some on Wall Street believe.
The 10-year Treasury yield (^TNX) continued a recent uptick on Friday, moving closer to 4.8% to touch its highest levels since late 2023.”
Verizon sunk. Didn’t expect that. Have to spin outnkdnthatnput option at 38.50. Double down and resell it at 36.50 couple weeks from now. Only $6,000 of game playing but still. Annoying. I like quiet Fridays with expiring options
I'll see you in about 7 months on the re-estimated number.
Is there a farm around here, because I smell some BUUUUUUUUUULLLLLLLLLSSSHHHHHHIIIIIIITTTTTTT!