January payrolls +467,000, despite Omicron (which was so Q4 2021)
In. The. Bag.
Omicron always was going to come down as rapidly as it spiked up. Anyway, January payrolls blew through expectations (click headline, get report from BLS):
Hazel is pleased, as she has plenty of work to do for leisure seeking Americans (who are they, anyway?) as the Good Ship Lollipop sails on along on its inflationary economic boom.
And the MSfM is on the job as well (click headline, get article):
Meanwhile, markets flipped their wigs as everybody – stocks, commodities, precious metals – was green and then red as the algos factored the data and long-term interest rates popped.
Uncle Buck reversed upward on the good – and hawk inducing – news. However, pertaining to the buck, one wonders if that which improbably (not improbably by NFTRH analysis, though) diverged upward and ‘bought the news’ (of inflation) in 2021 might diverge the hawking Fed in H1 2022. Just a thought, not analysis. It’s back below the SMA 50.
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