The Stock Market Seesaw
Ones and Tooze
Job Growth Drop and Market Reactions
This chapter analyzes the unexpected decline in U.S. job growth for July, leading to a substantial market sell-off. It evaluates the Federal Reserve's interest rate decisions amidst rising market panic and discusses the complex interplay of the Japanese carry trade's ramifications on global finance. The narrative underscores shifting perceptions of the U.S. economy as speculative trades unravel, affecting currencies like the Mexican peso.
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