by DesmondMilesDant
With US jobless claims coming above consensus forecast (228,000 versus 200,000), market concerns are spreading about the speed of the US economic slowdown.
And with a pivot from favorable interest rate risk to unfavorable credit risk, bad economic news becomes bad news for stocks— Mohamed A. El-Erian (@elerianm) April 6, 2023
Jobless Claims Explode Higher After BLS 'Revisions'; Tech Layoffs On '2001' Pace https://t.co/vINY3L7NXa
— zerohedge (@zerohedge) April 6, 2023
The MOVE Index is the bond market equivalent of the VIX Index. It measures the implied volatility of 1-month options from the 2-year note to the 30-year bond.
Today's closed was 153.9.
The shaded area is inside 2 standard deviations. So, 153.9 above the shaded area means it is… pic.twitter.com/CrZoTxoNUs
— Jim Bianco (@biancoresearch) April 5, 2023
One of the most negative signals in yesterday's ISM Services PMI was the fall in new orders and the rise in inventories. Now -8.5. A classic recession signal. Econ 101. pic.twitter.com/uYr2N4q8hn
— PPG (@PPGMacro) April 6, 2023