US jobs data-good
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September added a whopping +250K jobs vs 159k expected, shutting the door firmly on any recessionary fears.
It's an interesting dynamic, with only 1 month ago the 50bps rate cut was seen as being needed to mitigate against a sluggish economy. You may have read here our thoughts on the wider economy being 'just fine', and now this.
Futures are up materially too and the dollar has strengthened further +40bps.
Unemployment is now sitting at 4.05%, well below the red line of 4.3%
Regards
Adam