Despite the near-perfect track record of downward revisions over the last 17 months, the market seemed buoyed today by a better than expected JOLTS (Job Openings and Labour Turnover Survey) print - which was juiced almost entirely by government jobs!
Source: Bloomberg
And that was enough to send rate-cut expectations (dovishly) higher and so up went US stocks and Bond prices.
Source: Bloomberg
TSLA had a big day, up almost 10% after beating expectations for deliveries (getting back towards unchanged for the year)...
Which helped lift the Mag7 to fresh record-er highs...
Source: Bloomberg
despite 5 straight days of ETF inflows, Bitcoin slipped back (again) on FUD Mt.Gox headlines.
Source: Coinglass
Finally, for the first time on over a year, macro-economic surprises have turned negative across every major region in the world...
Time for The Fed to save the world from 'Tyrannical' Trump...with Dementia Joe?)
Happy Wednesday!
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Andy is the founder of ANDIKA Pty Ltd, a licensed securities & derivatives dealer. He's the author of fiction and non-fiction books and has been a University lecturer on risk and investment.
