TRA Macro Tracking Index

The U.S. economy added 162 thousand new jobs, a shock to the upside, in August, sending yields and the dollar higher and all be eliminating the prospect of a rate cut in September. Expect more conflict now between the Fed and the Administration on rate and trade policies, and slower macro growth for the foreseeable future. Of note is that the Bureau of Labor Statistics also revised up trailing three month numbers on the labor market.

Have a great long weekend, and catch up again next week with us!