Greetings from the Alaska Airlines lounge at SFO. I managed to squeeze in a few minutes to get a post out. Well, the mega-super-duper-event happened, the jobs report, and it came through stronger than expected.
All the futures markets are up, but it isn’t really because of this news. Just like this week began with a rumor that China was “re-opening” (because that’ll solve ALL our problems here at home), it’s likewise ending with the same rumors. So, yes, the /ES is up about 40 points as I’m typing this, but it was also up about 40 points before the jobs report was even out.
What’s most troubling, of course, is that the BFO effect has not kicked in yet, but the cash market hasn’t even opened, so maybe I should just have a little faith.
