Feeling totally burned out today, at one point I was coughing 60 times a minute. Just woke up and saw the U.S. November non-farm payroll data. First off, the unemployment rate rose to 4.6%, higher than the expected 4.4%. This is definitely bad data, but bad data is good news for rate cuts, especially since the Fed is now focusing on unemployment rates. Secondly, the non-farm employment numbers were better than the previous figures and expectations, likely due to the gradual recovery after the shutdown. Meanwhile, wage growth is slowing down. It’s still a bit early to call this an economic recession, even though the unemployment rate is at its highest point in four years. Powell still believes the current unemployment rate is manageable. After the U.S. stock market opened, there was a slight uptick, indicating the market’s attitude toward this information is still positive. Bitget VIP—lower fees, bigger perks!