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Soft Landing + Rapid Unscheduled Disassembly
I spent this whole week getting lathered up over a weak nonfarm payrolls release as Conference Board and Initial Claims data point to weak jobs growth… chart … But the nonfarm payrolls release itself came in on the screws and I, like others, gave back all my profits in bonds. chart So, while the US jobs market shows cracks, it hasn’t cracked. And we wait. The dates on the calendar now are: • China/US trade talks 13JUN • Big Beautiful Bill target date for House 04JUL • End of tariff pause 09JUL The China / US story has devolved into something similar to 2017 where both sides say stuff and nothing ... (full story)