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Joe Weisenthal Profile picture
@TheStalwart
Jan 7, 2022 • 9 tweets • 4 min read • Read on X
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As we wait for the jobs report. Something to remember: there are a bunch of hints in various surveys and signals that the labor market is booming right now.

bloomberg.com/news/articles/…
1. This week's ADP report was a monster, with over 800K jobs created among private firms.
2. The data from Homebase was extremely strong.

See here via @PantheonMacro
@PantheonMacro 3. The NFIB data looks great, both in terms off hiring and wages (HT: @RenMacLLC)
4. Housing red hot, per @RickPalaciosJr
@RickPalaciosJr 5.

The latest survey of small businesses from Paychex looks hot
@RickPalaciosJr 6.

The Employment subindex of the ISM has been improving for four months straight
Anyway! the official number is out in 35 minutes.
Oh and of course, as @IrvingSwisher has been pointing out, the weekly Initial Claims numbers have been consistent with an extremely robust job market

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More from @TheStalwart

Joe Weisenthal Profile picture
Sep 6
NEW ODD LOTS

The Booming Crypto Use Case That's Happening Right Now

@tracyalloway and I talked to @CampbellJAustin, prof at Columbia biz school and financial markets veteran, about the rise of stablecoins, and the genuine breakthrough that they represent bloomberg.com/news/articles/…
I'd say if there's ever been an episode that came close to convincing me and @tracyalloway that there's a genuine, non-speculative use for open blockchains (e.g. Ethereum, Solana etc.), this is it.
@tracyalloway Austin does a fantastic job explaining how the existing banking and payments system work, and how stablecoins augment it. And specifically, how they augment the existing system in a way that the existing system isn't capable of upgrading towards on its own without crypto.
Read 4 tweets
Joe Weisenthal Profile picture
Aug 6
SIX THOUGHTS ON THE AFTERMATH OF MONDAY'S BIG PLUNGE

In today's @markets newsletter, I wrote about where things stand now.

1) At least so far, things are much calmer than yesterday. Huge rally in Japan. The US rebound is fairly feeble. Meanwhile, "good news is good news" Image
2) We know the labor market is softening. But the question remains, can the Fed still get ahead of it? Image
3) Fed pricing looks much more normal today
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Read 7 tweets
Joe Weisenthal Profile picture
Aug 5
10 THOUGHTS ON TODAY'S BIG MARKET SELOFF

In today's 5 Things newsletter, I jotted down a bunch of random stuff about this moment in stocks, crypto, FX, and macro.

Here they are

1) It was clear instantly on Wednesday that Powell was going to be offsides this market: Image
2) To some extent, I think the way Powell was talking about "normalization" of the labor market didn't make any sense, almost regardless of what's going on with the economy right now. Image
3) Regardless of whether you think the Fed has made a mistake or not, the Fed is now clearly offsides. Remember on Wednesday Powell was still talking about the possibility of no cuts at all coming soon. Image
Read 12 tweets
Joe Weisenthal Profile picture
Aug 2
BREAKING:

BIG MISS ON UNEMPLOYMENT. UNEMPLOYMENT RISES TO 4.3%

JUST 114K NEW JOBS

Economists had expected 175K jobs and an unemployment rate of 4.1%.

bloomberg.com/news/live-blog…
S&P 500 futures now down 1.6% Image
Last two months revised downward by 29K

Average hourly earnings grow just 0.2%

U6 Underemployment rises to 7.8% from 7.4%

Average Weekly Hours falls to 34.2
Read 9 tweets
Joe Weisenthal Profile picture
Jul 1
TRANSCRIPT: The full text of me and @tracyalloway's chat with @dsquareddigest about how the world lost its mind.

The concept of Accountability Sinks is so powerful, once you start noticing them.

Here's an example that lead to the murder of 400 squirrels bloomberg.com/news/articles/…



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This is also extremely interesting how as organizations become more complex, it's almost inevitable that top management will have to rely more on financial information to understand what's going on, which is partly how you get situations like Boeing


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Also really intrigued by his assertion that from a perspective of "corporate short-termism" that the explosion of private sector debt (in part driven by LBOs) is a greater contributor than the stock price.


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Read 4 tweets
Joe Weisenthal Profile picture
Jun 3
NEW ODD LOTS:

How Corporations Learned The Maximum Amount They Can Charge For A Product

@tracyalloway and spoke with @ddayen and @owenslindsay1, who have published a special new edition of @TheProspect entirely about the new world of pricing strategies bloomberg.com/news/articles/…
- How companies got better at tailoring prices to you individually
- Price fixing by algorithm
- How every industry got airline-ified
- The booming world of ancillary revenue, and the consultants that teach companies how to max them out
- Trading data for lower prices

++
The whole edition of the magazine is fascinating and varied. And well worth reading in full
Read 4 tweets

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