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🔴BREAKING: February's NFP just dropped. And it’s jaw-dropping. Nonfarm payrolls: -92k vs. 58k exp. vs. 126k prev. Unemployment Rate: 4.4% vs. 4.3% exp. and 4.3% prev. Average Hourly Earnings (MoM): 0.4% vs. 0.3% exp. vs. 0.4% prev. Things are starting to look awful. The US pic.x.com/qKHLS1vCYb

In a normal environment, this would fuel the FOMC's rate cuts. Yes, in a normal environment. Meanwhile, the conflict in the Middle East is sending oil prices skyrocketing. Brent is already reaching $90, up from $70 before the war. As the IMF (72-country panel, 1970–2015) finds,

NFP readings today suggest that if the labor market continues to weaken, the FOMC has a real problem – cutting rates in such a situation as a way to stimulate the market is no longer feasible. According to IMF research: • A 10% increase in oil prices can raise global inflation pic.x.com/jynw5SJYKE

🔴 BREAKING: WTI Smashes through $80 Oil seems to have no ceiling. Rise after rise, a green candle for the fourth day in a row. WTI crude oil is almost reaching $85 per barrel. The daily RSI is becoming extremely overheated at 85, but technical analysis in extreme situations pic.x.com/y7WDILjSnX