Two important data points today: Inflation in the EU went down to 9.2%, better than expected but still way above #ECB target levels, and the US jobs report, where the market expects jobs growth to slow down to allow the #fed to take a pause on #ratehikes. As you can see below, wages are still holding on strong, which doesn’t help on the inflation front. As the tech sector keeps announcing job cuts, and some other industries are starting to prepare as well for a potential recession, the US yield curve keeps flashing recessionary signals as well, being the most inverted it’s been since 1992.
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Source: Barron's
