A string of dismal economic data has led to a reversal in the POSX and a surge in the Comex PMs. Is this a trend that can continue through Friday's BLSBS? Maybe. For today, let's just enjoy the green on our screens.
The dismality began at 8:15 ET today with the latest ADP jobs report. Not only did the November number come in well below expectations, but the "surprisingly strong" October number was revised downward from 233,000 "jobs" to 184,000....which means they overestimated by more than 30% right before the election. Hmmmm. That's interesting....
