It’s Quiet, Too Quiet – One Trader Warns Tomorrow’s Jobs Data May Change All That
by Tyler Durden
ZeroHedge.com
Aug 3, 2017
Yesterday marked 3 months (70 trading sessions) since the S&P 500 increased by more than 1% in any one day (and it has only fallen by more than 1% in any day three times in the last 10 months). As former fund manager Richard Breslow notes, “It’s been goodly, as opposed to awfully, quiet.” But, as he details, tomorrow’s non-farm payrolls data will be the catalyst for the next month’s slings and arrows of outrageous fortune generation (or loss)…
Via Bloomberg,
It’s been goodly, as opposed to awfully, quiet in the early goings-on today. Ranges have been tight. There have been good numbers and disappointing ones. Earnings beats but also misses. Decent auction results which didn’t seem to need much of a contrived concession, but on the other hand didn’t move yields all that much. The last round of Fed speakers were heard and the markets largely responded by reminding themselves that these folks have already declared themselves on holiday. And their comments were taken as such. It’s been a real throwback day, without a sea of green or red on the screens denoting everything moving in mindless lockstep.
The Rest…HERE
