i would argue that today we should be 100 basis points higher. it is clear that that is not done. this is bloomberg surveillance with tom keene, jonathan ferro, lisa abramowicz. tom: good morning, everyone. tom keene, jonathan ferro, lisa abramowicz. it is jobs day in america. important report in 29 minutes. wages, wages, wages. that is what matters this morning. jonathan: today is payrolls, next week is cpi. that should set us up for the meeting in september. you will get another payrolls and cpi report that, too. tom: no forward guidance into this report. that data is there at 8:30 and the fed will have to adjust. curve inversion of 37 basis points. jonathan: the fed has pushed back in a way that we thought they would. yields have responded on the front end by 17 basis on the two-year. equity markets kept on rounding. we have ripped off that market low. close to 20% higher from june 16 on the nasdaq. tom: it does for to into the fixed income space. frankly, that has bee
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The AI-led stock rally that rewarded mega-cap technology stocks has finally started to trickle down to other industry players that were seemingly not related to the AI and tech industry.