(As of 7:07 am PST)
Get ready for a manic market. The markets are brushing off a great jobs
creation number and giving back some early gains. The unemployment rate ticked down to 7.7% is
concert with the jobs creation number.
Why the hesitation of the market then? This is another in a series of
positive economic reports indicating that
the economy is starting to take off.
What's the problem? Stimulus! Good news reduces the argument for further
stimulus and the easy money policies are drawing closer to an end. Remember that much of our markets gains have
been stimulus driven over the last few years.
As the economy presses on, the markets might not follow, fearing
stimulus reduction and investment deleveraging.
Still, it is great to see such positive economic data and perhaps our
recovery can spill over to Europe as well.
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