Week 40
Macro Equity and bond prices took a hit on Tuesday, after reporting hot JOLTS data (Job Openings and Labor Turnover Survey). Available positions rose to 9.6m from under 8.9m (revised) in July, with little change to hirings (5.9m) and quit rate (2.3%). The good news “ongoing strength in the US labor market” was interpreted as bad news for equities, because it increased odds that the FED will hike again. Some…