VRALetter

VRA Letter: Jobs Report – No Rate Hike in September. The Significance of Multiple Inflection Points.

Good Friday morning. The August jobs data is in and its a win for the Fed’s hopes of a soft landing (so far…2024 may be a different story). 187,000 jobs were created (exact same as last month...the matrix may be glitching), ju ...

Posted On September 01, 20235 MIN Read
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Good Friday morning. The August jobs data is in and its a win for the Fed’s hopes of a soft landing (so far…2024 may be a different story). 187,000 jobs were created (exact same as last month...the matrix may be glitching), just beating estimates, with the unemployment rate jumping to 3.8% (v 3.5% last moth) and with wage growth slowing, both m/m and y/y.

The markets like this report. Dow futures +180. Nasdaq (leader) + 110 with gold, silver and miners showing solid gains. 10 year yield is flat at 4.09%.

We've have had multiple releases this week that confirm a slowing economy. There will be no rate hike in September. Instead, the Fed should be cutting rates by year end (but they almost certainly won’t).

Note: We’ve had a number of new VRA Members join us of late and we highly recommend that you go back through the VRA Letters of the last week + so that you understand the significance of the “inflection points” that are converging with primary trend courses resuming.

Ma...

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