By Tyler Durden
July 7, 2021
In previewing today’s JOLTS data, Bloomberg writes that it “is likely to matter more for investors than FOMC minutes later today” as the last three prints have led to a pop in stocks after the first five minutes, with tech underperforming alongside a rise in yields and the dollar. The exception is the last print, which boosted stocks but did not translate to the bond market. As a reminder, the last reading shocked to the upside with job openings hitting a fresh record of 9.3 million, illustrating that enhanced unemployment benefits have indeed depressed employment.