In a little less than one hour the world will be watching the Mother of all Macro Economic Figures, the monthly US Non-Farm Payrolls. Could be even worse than 1956’s record of -629k (july). Maybe it beats december 1974’s figure of 602k. Expectations already dropped Wednesday after the disappointing ADP Employment figures. A figure of -550k would be called a non-event, below 600k would maybe trigger a new sell-off.
Pink elephant syndrome
Have to admit I’m a serious victim from the pink elephant syndrome. Every month I can’t help thinking of farms. In particular US farms and all the friendly farmers working there with their cattle, unaware of the financial markets completely ignoring them.
Volatility rising in the option market. Options getting more expensive every minute.
Update : Figure of US Non Farm Payroll is -524k. Relief.