Yes, a substantial increase in first time unemployed syncs with lower new jobs report last week to suggest the high rates are finally starting to bite … (socially) perverse investors cheer the emerging likelihood that there will be earlier and more rates cuts in 2024than the Fed had been telegraphing of late.
BUT the price of oil was high most of April.
Next week’s PPI and CPI inflation reports will be telling imo.
Dex
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Friday, 10th May 2024, page-2
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