Its Over, page-11104

...the good news is bad news outcome that may spook the market again tonight.

Was right this morning a good time to pare down - big retracement now occurring. No time for Procrastination,.
November Payrolls Preview: Strong Enough To Justify The Accelerated Taper?

BY Zero Hedge
THURSDAY, DEC 02, 2021 - 09:40 PM

With Powell's Fed having telegraphed it will accelerate the taper at this month's meeting so it can start presumably start hiking as soon as June of 2022, the November payrolls report may be moot although traders will be looking for barbell signs: will it be strong enough to validate an accelerated taper, or could it come so far below expectations that the Fed will be forced to delay its taper-boosting plans.

Looking at the expectations, Newsquawk reminds us that analysts look for 550k nonfarm payrolls to be added to the US economy in November, similar to October's 531k; the jobless rate is seen falling by one-tenth of a percent to 4.5%. While as noted above the Fed appears almost certain to announce a quickening in the pace of QE tapering, analysts will be carefully watching measures of labor market slack to gauge the progress towards the Fed's 'three tests' for rate hikes: i) Participation was unchanged in October, ii) employment-population ticked up by 0.1ppts, while iii) the U6 measure of underemployment fell 0.2ppts.

With the inflation tests met, the labor market data will form a key part of the Fed's arguments for rate hikes, and any significant  improvement in these metrics may see markets further price in tighter rates next year. Meanwhile, labor market gauges have generally been constructive in November: the rate of initial jobless claims going into the November survey period improved relative to the October window; ADP's gauge of payrolls was in line with expectations, though the pace eased vs October; business surveys saw employment sub-indices improve and are alluding to a very tight labor market, while today's Challenger job cuts fell to the lowest since 1993.