“U.S.-based employers announced 172,017 job cuts in February, the highest total for the month since 2009 when 186,350 job cuts were recorded. It is the highest monthly total since July 2020 when 262,649 cuts were announced”
And just like that … the Nasdaq 100 index $QQQ is back to the level it was trading 8 months ago.
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Excellent speech here by Roberto Perli (mgr of the NY Fed open market account) on the looming risk to Fed balance sheet reduction operations as the Fed’s reverse repo facility is nearly drained of excesses … and how an extended debt ceiling extension/suspension fight in Congress could present a clear and present danger to smooth policy o…
