Most economic data continues to be on pause due to the extended government shutdown (37th day) but this morning traders focused on a less loved data point in Challenger Job cuts. Tracking job cut announcements YoY the index rose 175% in October adding to worries about a weaker labor market. While the number was elevated it was the not the highest number of the year coming in behind March which saw at uptick to 205% YoY. Cuts in technology were the highest as AI use grows. Yields and US indexes…
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