๐ฅ THE U.S. JOBS MARKET JUST MISSED BADLY.
๐บ๐ธ September payrolls: +29K
๐ Expected: roughly +90K
โ ๏ธ Unemployment: 4.2% vs. 4.1% expected
But the real shock is hiding underneath.
July and August were revised down by a combined 60,000 jobs. That means the previous picture of the labor market was weaker than initially reported. ๐ง
And now the Fed has a new problem:
Inflation is still a concernโฆ but hiring is losing momentum.
Treasury yields fell after the report, while markets increased bets that the Fed may take a more cautious approach to further rate hikes. ๐๐ฆ
For Bitcoin and other risk assets, the next question is simple:
Does a weaker labor market finally give markets the Fed pivot theyโve been waiting for? ๐
$SPX
#Bitcoin #Crypto #Fed #Jobs #Markets
๐บ๐ธ September payrolls: +29K
๐ Expected: roughly +90K
โ ๏ธ Unemployment: 4.2% vs. 4.1% expected
But the real shock is hiding underneath.
July and August were revised down by a combined 60,000 jobs. That means the previous picture of the labor market was weaker than initially reported. ๐ง
And now the Fed has a new problem:
Inflation is still a concernโฆ but hiring is losing momentum.
Treasury yields fell after the report, while markets increased bets that the Fed may take a more cautious approach to further rate hikes. ๐๐ฆ
For Bitcoin and other risk assets, the next question is simple:
Does a weaker labor market finally give markets the Fed pivot theyโve been waiting for? ๐
$SPX
#Bitcoin #Crypto #Fed #Jobs #Markets
