United States: Jobless claims are approaching pre-COVID levels.
Most of the “labor slack” is gone (2 charts).
China: Coal futures prices continue to fall as Beijing forces out “speculators.”
Equities: The share of companies beating earnings and sales estimates has moderated in the Q3 reporting season.
Credit: Inflows into MBS funds have accelerated recently.
Rates: The 2-5-10 Treasury butterfly spread has blown out, as the belly of the curve takes a hit. Investors expect the Fed to be more aggressive in fighting surging inflation.
Food for Thought: Black Friday shopping plans:
Edited by Daniel Moskovits
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