Crazy Friday

Wow, there's A LOT going on today. So much so that it's going to be nearly impossible to neatly summarize it all into this morning update...but we might as well give it a try.

Let's start with the BLSBS. Yes, the total payroll number exceeded expectations for the tenth consecutive month...which is ridiculous in its own right. However and once again, much of these "job gains" are due to part-time job being counted the same as full time AND the usual shenanigans of the birth-death adjustment, which added 176,000 "jobs" to the total....

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Key Economic Events Week of 6/17

6/17 8:30 ET Empire Fed
6/17 1:00 ET Goon Harker
6/18 8:30 ET Retail Sales
6/18 9:15 ET Cap Ute & Ind Prod
6/18 10:00 ET Business Inventories
6/18 1:00 ET Goons Kugler & Logan
6/18 2:00 ET Goon Ghoulsbee
6/19 US Markets closed
6/20 8:30 ET Housing starts
6/20 8:30 ET Philly Fed
6/21 9:45 ET S&P flash PMIs June
6/21 10:00 ET Home sales
6/21 10:00 ET LEIII
6/21 4:00 ET NYSE option expiry

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