The street is throwing in the towel on a cut this summer ...
*JPMORGAN CHANGES FIRST FED RATE-CUT VIEW TO NOVEMBER FROM JULY
*CITI CHANGES FIRST FED RATE-CUT FORECAST TO SEPTEMBER FROM JULY
September (orange) is exactly a coin toss.
https://x.com/biancoresearch/status/1799523046128238805
The rise in unemployment rates yesterday highlights the critical importance of this macro signal, which has consistently predicted severe downturns in labor markets.
If history is any guide, this is the beginning of an upward trend in unemployment rates, not the end of one.
https://x.com/TaviCosta/status/1799574489736302757
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Its Over, page-22197
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