Friday, September 01, 2006

Much to those new job numbers, King? 

No, I don't think so. An increase of 128k in payroll employment and a decline in the unemployment rate to 4.7% doesn't do much for me. I wouldn't call it fugly, though. It's simply more of the productivity conundrum. And as long as consumer keep spending, there may be enough sector rotation to keep me in the camp of �accumulating more information before judging.�

In other words, the information content of that report for the next move by the Fed should be zero. This "perfectly balanced" stuff is, I must agree, delerious.