Jobs Report Bad News Despite Eased Rate Expectations
Even though a weaker-than-expected jobs report may lower the odds of a Fed rate hike this month, it signals bad news for the economy due to a meaningful deterioration in hiring and income, according to eToro's Bret Kenwell.
Today's weaker-than-expected jobs report is bad news for the economy, even if it does lower the odds that the Fed will raise rates this month, eToro's Bret Kenwell says in a note. Lower rates may support markets in the near term, but a meaningful deterioration in hiring and income eventually pressu…