It's Official: Unemployment Is About to Hit the Fan

A whole bunch of bad data, much of it focused on deterioration in the US labor market (pre-July payrolls). That unleashed huge swings in rates markets and forward rates. One reason for all this is the historical pattern is perfectly clear. What we're seeing right now happens EVERY TIME. No exceptions. Eurodollar University's Money & Macro AnalysisFOMC Monetary Policy Statementhttps://www.federalreserve.gov/newsevents/pressreleases/monetary20240731a.htmFederal Reserve Chair Powell Press Conference July 31https://www.youtube.com/watch?v=hb1eHcqGpY0https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU