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The +216K headline NFP number doesn’t square with the HS’s and a loss of full-time jobs. Labor markets have loosened, and, in our view, have a rocky near-term future.

The much-anticipated Consumer Price Index (CPI) was released this week. For those seeking evidence that inflation will soon be back at the Fed's target level, it wasn't the triumph it might have been. Even so, rates managed to move lower. Mortgage rates and, indeed, most rates are determined by trading levels in the bond market.  Bond yields/rates move higher when inflation is high, and the market has been waiting on signs of lower inflation before trading in a way that allows interest rates to move lower. The Consumer Price Index (CPI) is the bigges...

The jobs report was weak. The headline NFP number doesn’t square with the HS’s and a loss of full-time jobs. Labor markets have a rocky near-term future.

“What do you call a Christmas wreath made out of $100 bills? Aretha Franklins.” It’s cutting-edge humor like this that keeps readers coming back for more, right? Or astronomy tips, as today is the Winter Solstice, with the least amount of sunlight in the Northern Hemisphere and a little music to go along with it. “The winter is here again, oh Lord. Haven't been home in a year or more.” (Look at that hair!) Lenders and vendors are hoping that the decline in rates keeps the “winter” away from lending, and holds more salary cuts, layoffs, a...

During Wednesday's Asian session, Japan will release trade data.