Nonfarm payrolls came in at 0.4% MoM (4.0% YoY) beating estimates of 0.3%. The unemployment rate increased from 4.1% to 4.2% despite the Americans thrown out of work by the hurricane or strikes returning to work. Though the results might muddy the case for a Fed rate cut in December, there was no mistaking the message the algos received from VIX.
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