On Mon, 29 Sep 2003, Doug Henwood wrote:
> Haven't seen this sort of thing in a while, but here's the lead of
> Wrightson ICAP's preview of Friday's US employment report (Wrightson
> is a research boutique specializing in the credit markets):
>
> >The monthly employment reports have consistently been a source of
> >good news for the credit markets this year, and there is no reason
> >to expect the headline numbers to be anything but bond friendly
> >again this month. We share the consensus forecast of a 25K decline
> >in payrolls and a 0.1% increase in the unemployment rate.
I don't know whether or not to thank Doug for this. It's certainly a wonderful example of the gruesome logic of Capital, but it's so fucking depressing that somebody actually wrote this. --And got paid for it.
Miles