The new jobs data is a terrific boost to the Bullish camp (where I have been since February 2). It was strong enough to keep the expansion growing, but not so robust as to force the Fed’s hand.
As I wrote yesterday, I am thrilled to be wrong on "the under" this time around. Yields are coming in, oil is softening, and the Dow is closing in on multi-year highs. If we close above those highs — an admittedly big if — that will officially kick off the next major leg higher.
Positive Employment Headlines but…
The economy maintains the status quo while giving the Fed the green light to hike rates further.
Barry, Barry, Barry!
As most honest economist (as in no one shilling for the GOP or CATO) would point out, the 262K new non-farm jobs (as if farms have actually create work in the last one-hundred years) is still well below the number needed just to keep pace with the per annum rate of new, first time job seekers. I believe that number needs to be around 400K per month for at least a year.
Oil is softening? What charts are you looking at?
this was an intraday comment — meaning, reflecting the state of trading for the moment.
Readers of this blog know my longstanding bullishness on energy . . .
I would like to see the graph of the corrections that they make to these numbers month by month.
It always seems like they are only consistant in one way; they usually decrease the “good” news and increase the “bad” news.