Markets have been just fine accepting some “bad” labor data
Markets have been just fine accepting some “bad” labor data: Tom Essaye Quoted in Blockworks
Fed holds interest rates, US equities and cryptos stay in the green
So far, markets have been just fine accepting some “bad” labor data since it means rate cuts are more likely, but this could change in the near-term, Sevens Report Research founder Tom Essaye said.
“A ‘Too Hot’ number that pushes back against September rate cut expectations is the near-term ‘worst’ outcome for stocks, while a slightly weak number (a bit below expectations) is the ‘best’ short-term outcome for stocks because it implies still-solid economic growth but also clears the Fed to continue to plan to cut rates in September and, most likely, again in December,” Essaye said.
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