Gou Chuan is getting serious. Keep tweaking the data—nonfarm comes in weak, a cold surprise.
In September, only 29,000 jobs were added, while market expectations were over 80,000. The unemployment rate is 4.2%, and hourly wages only rose 0.1% month-over-month.
Even harsher: July was revised down to negative, and the first two months combined were cut by 60,000.
Translation: the jobs market is cooling off, and wages aren’t rising either. The Fed now has one big reason less to keep hiking.
Traders understood instantly—just a week ago, the probability of a rate hike in October was 60%+, but it has dropped to below 20%.
The Fed: Alright, alright—so you’re playing like that? 🤣
In September, only 29,000 jobs were added, while market expectations were over 80,000. The unemployment rate is 4.2%, and hourly wages only rose 0.1% month-over-month.
Even harsher: July was revised down to negative, and the first two months combined were cut by 60,000.
Translation: the jobs market is cooling off, and wages aren’t rising either. The Fed now has one big reason less to keep hiking.
Traders understood instantly—just a week ago, the probability of a rate hike in October was 60%+, but it has dropped to below 20%.
The Fed: Alright, alright—so you’re playing like that? 🤣
