As per the earlier preview, there were virtually no potential downsides to today’s jobs report (with a possible adverse exception of tariffs), and as so often happens, moments ago the BLS reported that July payrolls missed “bigly”, rising just 157K, missing expectations of 193K, the lowest monthly print since March and the biggest miss to expectations since October. However offsetting the poor July print was the sharp upward revision to the June number which rose from 202K to 234K.
Developing.
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