Job openings for August came in below expectations, potentially fueling the debate as to whether the labor market is showing signs of cooling. August JOLTS came in at 10.053 million against a consensus estimate of 10.775 million. It is important to remember that this is simply one data point, and nonfarm payrolls data this Friday is likely to offer a better clue as to future Fed policy. Nonetheless, markets have latched onto the narrative of a pivot following this print, with risk moving higher and yields lower. The US Dollar Index (DXY) has been on the decline lately as US Treasury yields have cooled. After piercing ... (full story)