Well I've seen some messed up and stupid BLSBS Fridays over the years but this one was definitely in the Top 5 all-time for being ridiculous. Not only was the actual BLSBS data a joke, the AlgoHell reaction across the markets was painful to watch, too.
But, whatever. It is what it is and, because EVERYTHING in 2024 keys off of Fed rate cut expectations, we might as well get used to it as the new normal.
For today, a summary of the day's events where your host actually managed to avoid the use of significant profanity...at least I think I did...and then a look at these five images:
And then all of these charts:
And we close, of course, with your first CoTs of 2024:
Have a great weekend!
TF
