Posted on 04/05/2024 6:43:03 AM PDT by Miami Rebel
Rates on U.S. government debt jumped Friday morning after data showed the U.S. created far more jobs than expected in March and signaled that the economy might be speeding up.
What’s happening
The yield on the 2-year Treasury BX:TMUBMUSD02Y was 4.710%, up 6.9 basis points from 4.641% on Thursday. Yields move in the opposite direction to prices.
The yield on the 10-year Treasury BX:TMUBMUSD10Y was 4.382%, up 7.4 basis points from 4.308% on Thursday.
The yield on the 30-year Treasury BX:TMUBMUSD30Y was 4.533%, up 6.4 basis points from 4.470% on Thursday.
Yields were on track for their largest one-day jumps since Monday.
In addition, 2- and 10-year rates were headed for their biggest weekly gains since the period that ended on March 15. The 30-year rate was poised for its biggest weekly advance since the period that ended Oct. 20.
What’s driving markets
Data released on Friday showed that the U.S. created a whopping 303,000 jobs last month, or about 50% more than the median estimate of economists polled by the Wall Street Journal, who expected a 200,000 increase. The increase was the biggest in more than a year.
(Excerpt) Read more at marketwatch.com ...
“Good luck” on getting the central bankers to cut interest rates this year.
If they do, it won’t be very much.
Your point regarding loss of full time jobs being replaced by low-level part time jobs is supported by lagging / poor tax receipts. And rising deficits.
Sorry, I don’t care what the numbers say, economy is still looking like crap from where I am sitting. See absolutely no indication of anything going right.
Your point regarding loss of full time jobs being replaced by low-level part time jobs is supported by lagging / poor tax receipts. And rising deficits.
*****************
Excellent point.
Those numbers haven’t gotten the attention they deserve.
Correct, good comment.
“Sorry, I don’t care what the numbers say”
“My feelings!”
Its not feelings, it’s observation.
Numbers can claim whatever they like, what I see on the ground absolutely does not match the numbers they are trying to sell.
Simply put, they are lying.
And yep, my “feelings” (objective observations) are indeed true... they are lying.
https://confoundedinterest.net/
Why are companies laying off while the jobs market heats up? A family member with a degree (not a BullShite degree) was laid off (along with their entire team), it took three months to find a job. Took an entry-level manager position after being a director. Had they pushed for a comparable job, they would still be unemployed. Conversely, a local lawn care contractor had to hire extra seasonal (illegal) workers. So many new homes have gone up in the last few years that he has been slammed and had to add equipment and workers. He said it is that way for all the local lawn care contractors. Everyone is slammed and cannot take on any new clients. I want to see the real details of what jobs are being added and where. There are a lot of State and Federal jobs being posted right now. But many are six-month contracts with possible extensions. Those jobs have little to no benefits. You are essentially a 1099 contractor. How do those types of jobs factor into the job numbers?
Unfortunately the state's true policy was to kill as many citizens as they could with starvation and disease. They just wanted to kill the right ones. The doctors, farmers, machinists, engineers, clergy,and such, were killed off, placed in prisons (kept alive to serve only the party leaders), were enemies of the state.
https://mishtalk.com/economics/jobs-up-303000-full-time-employment-down-6000-in-march/
“The economy continues to add a high percentage of government and social assistance jobs. Part time employment rose by 691,000 as full time employment fell by 6,000.“
I read Mish Talk very carefully, after mowing my own grass.
(Over 40 family years of self mowing, and saving over $1000/yr, roughly put a kid through 2 years of public university. And now they mow their own grass. )
We are looking at getting a used riding mower next month; it is no longer as cheap to contract and harder to get our contractor out to the house just twice a month. I grew up in the north, and we had to mow weekly during the summer. We used push mowers. There are different types of grass here; if you mow weekly in the summer, your lawn will die in July and August. Riding mowers keep the fire ants off my legs.
Cool, I get it. I hope you have good fortune working through the inflation mess.
Another thing they don't show, or discuss, is that Americans are losing jobs, while illegal aliens are taking the jobs being created.
Scroll down on the link, story telling the truth about the employment numbers is down the page
“re” in “reaccelerating” ?
Right now my company can barely keep up with demand.
There is quite a bit of cash out there coming out.
Secure Power.
And yet, the revisions for January and February have been upwards.
Can two things be true at the same time? What you’re seeing does not indicate economic growth, but looking at the whole country does?
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