The Economy Lost 23,000 Jobs, So Wall Street Sent Flowers
📉 America lost 23,000 jobs in July. 📈 Wall Street responded by pushing the S&P 500 to another record, because financial markets are perfectly capable of converting labor market weakness into a discount rate celebration.
Today’s GRO MONEY NEWS explains what sophisticated capital should see beneath the rally. Asia is buying the rate pause thesis, the VIX has fallen to 14.90, and Wednesday’s inflation report will collide with a $42 billion ten year Treasury auction that could determine whether Friday’s rally survives the week.
🏗️ Prologis is buying SEGRO for approximately $18.8 billion, creating…
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