Data Dump Week Day #2 is now complete and it was a good one. This morning's JOLTS report was just lousy and it revealed growing weakness in the labor market...a weakness that will drive further fed funds rate cuts in December and beyond.
Also helping today was a very strong 7-year note auction that lended some strength to the bond market. As rates fell, the POSX sold off and those two together kept CDG and CDS well-bid all the way through the Globex close.
Now we do it all again tomorrow with ADP at 8:15 ET and Q3 GDP at 8:30. Good luck and have fun!
For today,...
