The # of people claiming unemployment benefits in the US just jumped by 8k to 229k. Well above expectations of 220k, to record the highest reading since the 8 mth high of 232k from May. 

The results show a softening US labor market & are 🐂 for rate cuts.

The # of people claiming unemployment benefits in the US just jumped by 8k to 229k. Well above expectations of 220k, to record the highest reading since the 8 mth high of 232k from May. 

The results show a softening US labor market & are 🐂 for rate cuts.


https://tradingeconomics.com/united-states/jobless-claims

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Defo a strengthening case for rate cuts, though from casual observation the Fed is always slow to react, maybe a Q3 story?

thugkitten.eth. Interested in crypto/ web3 & love of life, lost kitties and ecological preservation. Currently a flâneur captivated by frontier Tech. 

🤔 the best of action is maybe doing nothing and Hodl.

Time in market > market timing

I think it may come earlier since the EU and Canada just announced rate cuts by 25 BPS 😅.