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Joe Weisenthal Profile picture
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7 Jan, 9 tweets, 4 min read
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
7 Jan
BREAKING:

Miss: Just 199K jobs created in December vs. 450K expected.

Unemployment rate falls to 3.9%

Average hourly earnings grow 4.7% YOY

bloomberg.com/news/live-blog…
Labor force participation rate holds steady at 61.9%, even as the unemployment rate falls from 4.2% to 3.9%.
Stock futures modestly lower after the report bloomberg.com/news/articles/…
Read 5 tweets
Joe Weisenthal Profile picture
6 Jan
NEW ODD LOTS:

Why the price of coffee has surged 100% over the last year.

@tracyalloway and I took a deep dive into coffee market structure with @CoffeeNinjaRyan to discuss how the market works, and what's driven this dramatic change in price. bloomberg.com/news/articles/…
@tracyalloway @CoffeeNinjaRyan Here's a 5-year chart of arabica beans. You can see the price really taking off at the end of 2020, at the end of a multi-year bear market.
@tracyalloway @CoffeeNinjaRyan Here's Robusta (lower quality) beans. Also up, but not as much.

One thing I learned from talking to @CoffeeNinjaRyan is that in coffee trader lingo, playing the spread between Arabica - Robusta is called "the arb" (even though it's not actually an arb at all)
Read 4 tweets
Joe Weisenthal Profile picture
20 Dec 21
WHEN WILL CRYPTO PEOPLE FINALLY STOP TWEETING

In today's @markets, I wrote about Web3 network effects and how crypto twitter should come to an end.

Sign up for the newsletter here: bloomberg.com/account/newsle…
@markets My prediction is that in 2022, there's no visible slowdown in Crypto Twitter, but everyone tweets things like "I've been spending a lot less time here on Twitter, and way more time in Discord lately. Way more positive and learning a lot more."
@markets "I still love Crypto Twitter, especially for trading. But been spending way more time on Discord this year, because that's where all the builders are"

How you'll really know when crypto is really in a bear market.
Read 5 tweets
Joe Weisenthal Profile picture
17 Dec 21
TRANSCRIPT: The full text of our conversation with @dcleyre192 is out. All about the booming movement to end work as we know it and the surging growth of the r/AntiWork subreddit bloomberg.com/news/articles/…
@dcleyre192 Something I find interesting is how we're seeing all of these micro-economic movements form online and reddit in particular.

WallStreetBets
AntiWork
FIRE

All very different, but all kind of people organically rethinking their approach to the economy. ImageImage
As always, if you'd prefer to listen rather than read, find it anywhere, like

Apple: podcasts.apple.com/us/podcast/thi…

Spotify: open.spotify.com/episode/2YK3j1…

Etc.
Read 4 tweets
Joe Weisenthal Profile picture
14 Dec 21
TRANSCRIPT: This is why the price of wooden shipping pallets have soared over the last year.

Full text of our interview with Marshall White -- the nation's foremost expert on pallets and packaging is out. So much to learn in here. bloomberg.com/news/articles/…
And if you want to listen to the episode, instead of reading it, of course you can listen here.
Three big companies basically control the pallet market. They rent them out and repair them. This is the lifecycle of a wooden pallet bloomberg.com/news/articles/…
Read 4 tweets
Joe Weisenthal Profile picture
13 Dec 21
NEW ODD LOTS

The wooden pallets episode.

@tracyalloway and I talked to Marshall White, the world's foremost expert on pallets and packaging, to talk about why the price of pallets has exploded over the last year. bloomberg.com/news/articles/…
@tracyalloway Here's the PPI index for Wooden Pallets and Pallet Containers. You can see the big surge in 2021. Image
@tracyalloway One thing that we learned in this episode is that at Virginia Tech, they have a whole school for studying pallets and packaging, and there's a sculpture of the world on a pallet unitload.vt.edu Image
Read 6 tweets

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