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Penetrating the Exosphere
Goldilocks remains at the helm of the risky asset starship as it forges deeper into the stratosphere. Data continues to support the soft landing, as it has for most of the past 12 months and bond yields are lower, stocks are higher, and crypto is doing a perfect repeat of 2021. Maybe we’re gonna get Summer of Solana part deux. The US data was pretty close to perfect for the Goldilocks camp as ISM came in flat with falling prices paid, ADP and JOLTS thread the needle, and NFP was mixed with very weak earnings. Earnings and inflation are key as the US jobs market continues to hum along. Initial Claims are low and ... (full story)