It's another BLSBS Friday and, given the utterly outrageous data, you might've thought we'd have a massive beatdown on our hands. Nope. Quite the opposite and, behind the scenes, things are getting more and more interesting as the spread between spot and futures in CDG and CDS grows again.
But let's start with the data. By now you've seen it and I'll post the ZH summary link below if you'd like to read more. I joked in yesterday's podcast about "256,000 new jobs" but that was it...I was joking. No way I ever thought they'd try to pull it off. But they did.
