Thursday 22nd August, 2024, page-26

If last night’s 800k downwards revision in job creation over the past year is seen as cementing the case for Sep rate cut, and the US economy is still Goldilocks strong, why is the market hesitating?

All I can think of is that for now the market sees the revision as the harbinger of recession and/or there is fear/uncertainty about what Powell might have to say about future Fed actions at Jackson Hole during Friday’s trading session?

Dex