Dumb & Dumber: Consensus Economic Commentariat Cheers Jobs Report In Unison!

Takeaway: Take the other side of consensus.

By Keith McCullough


So, I was stuck in traffic on the Merritt Parkway earlier this morning, watching my Twitter feed during the April jobs report release.


It was sad funny to read my stream and observe just how uniform the frenetic, positive commentary from consensus was. Wolf pack mentality.


D1 normal


So what did stock, currency, and bond markets think? They basically shrugged it off. They're not seeing much to get excited about.


Newsflash: The unemployment report (and rate) is what we call a lagging economic indicator.


Newsflash: 10-year yield at 2.65% is down -38 basis points YTD. What’s that telling you about growth?             


During my recent conversation on HedgeyeTV, former Goldman Sachs prop trader Buddy Carter basically told me that, "passive editorial trend following is useless" and how the Twitter contra stream can help identify opportunities. Indeed.

  • Investing Ideas

    Investing Ideas is for the savvy, longer-term self directed investor looking for fresh, exciting, long-only opportunities.

    $29.95 per month
  • Daily Trading Ranges

    Every morning, you'll receive our proprietary buy and sell levels on major markets, commodities and currencies.

    $29.95 per month
  • Real-Time Alerts

    Receive email alerts every day in real-time whenever our proprietary model flashes a Buy or Sell signal.

    $29.95 per month
  • Morning Newsletter

    An irreverent, smart and unique take on global macro events including markets, the economy and politics.

    $29.95 per month