Cast your mind back to Friday – when payrolls confirmed everything for everyone and enabled more crowing from an establishment clinging to smoke and mirrors. It appears The Fed disagrees with the ‘awesome' jobs market that BLS proposes as today's Labor Market Conditions Index continues to push to its weakest since 2009, drastically divergent from the seemingly all-important non-farm payrolls data.
The 19-factor labor market conditions index developed by The Fed is not singing from the same Koombaya “everything is awesome” hymn-sheet that The White House would prefer…
This kind of divergence has not been seen before in the lifetime of this data series… so what exactly is going on?
It appears the market is starting to agree…
