The Non-Farm Payrolls report was a mixed bag this morning.
I doubt it will deter the Fed from raising rates 25 to 50 bp. This has been their the imperative of their internal needs for using rates as a tool for some time. They wanted badly to get off the zero bound, ahead of the next recession.
Only fear of the weak recovery and macro events have held them back, largely from a reputational perspective. Never underestimate the craven motives of a seasoned bureaucrat.
Stocks caught a bit of a bounce, primarily as a technical matter into a weekend overshadowed by the vote in Italy and continuing 'populism' in Europe.
Have a pleasant weekend.
