Upon Further Review – The Labor Market Is Cooling

On Friday (January 5th), once again, the Non-Farm Payroll (NFP) number (+216K) handily beat the +175K consensus estimate for December. Immediately after the release, equity markets, via the S&P 500, spiked +0.75% (35 points) to 4,721 from 4,686, as did bond yields with the 10-Year Treasury rising 8 basis points to 4.08%. But, by day’s […]