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5min chapter
The Hiking Cycle Is Over
The Macro Trading Floor
The Labor Market Report Isn't Particularly Strong in the First Place
The breadth of labor gains on an industry level is very bad, says Andreas Schmitz. The Fed Reserve really cares about wage growth, he adds. ISM services new orders are trending down aggressively, and price pressures reported by these companies also drop fast. This is probably the clearest indication from the Fed that a pause could be warned, writes Schmitz and it's not worth doing 25 basis points further in May.
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