Following Friday's "great" jobs data - which tumbled stocks - investors were looking hopefully at this morning's Labor Market Conditions Index for any bad news that was good enough to hint that The Fed will stay lower, longer and extend liftoff just one or two more quarters... they were disappointed...
While the LMCI did drop modestly, it (unfortunately for the bulls) does not offer the kind of pending doom that would warrant The Fed to give up all credibility and fold on a June rate hike...
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Charts: Bloomberg
