Mid-week market update: The combination of the Quarterly Census Employment and Wages (QCEW) weakness and a soft PPI report has moved the market to expect to at least a quarter-point rate cut at the FOMC meeting next week. There are even whispers that the Fed may even move by a half-point, though the odds is only 10%.
New Deal democrat came to the dismal conclusion that QCEW may be signaling that there was no job growth at all this year. While bad news is good news for the bond market, is it good news or bad news for the stock market?
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