It’s madness, everywhere. It’s also clear that we are entering into even darker times ahead. But, for today, let’s check the BLSBS and look for some levels to watch ahead of a 3-day US market holiday weekend.
Let’s start with that BLSBS. The absolute “jobs number” came in pretty much near the expectations we had…still up but not as much as last month due to the birth-death adjustment being less. However, the “unemployment rate” edged up two ticks and this was enough to get the algos to dump the POSX and buy CDG and CDS. Well, whatever. I’ll take it….