You will never guess in which direction the September blowout 9.553MM jobs openings were revised

December 5, 2023 2:44 pm by CWR

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Also: Jobs data tends to lag, indicating the situation might be worse than the market currently anticipates.

Paradoxically, this is bullish for the near future as the market is eager to price in the cuts.

TLDR: Bad news is good news.

— Phoenix Capital (@PhoenixCapitalH) December 5, 2023

See also Sven Henrich: Never has so much money chased such high valuations.

See also Super Micro Computer stock ($SMCI) plunges 27% as Ernst & Young refuses further audits... Oh, look, Mummy! Twins! Guess who's next?

Job openings/S&P500

h/t Tonight We Ride!

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