- The US economy is running hot and markets are in a panic about it.
- The September jobs report blew past economists’ expectations, with 336,000 jobs added last month.
- Stocks slumped and bond yields surged as investors brace for higher for longer interest rates.
The US economy is still burning hot – and it’s the worst possible thing for markets to take in right now.
The labor market grew faster than expected in September, with the economy adding an eye-popping 336,000 jobs, the Bureau of Labor Statistics reported on Friday. That’s nearly double the 170,000 jobs economists were expecting.
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