Jobs Data Signal Rate Hikes Over: BlackRock's Rosenberg

The video discusses the gradual normalization of the labor market following a quiescent jobs report. It highlights mixed comments on wages and the expectation that the recent rate hike might be the last. The discussion covers the yield market outlook, focusing on the shape of the curve and the steepening observed. The analysis includes the five-year forward measure and the 210 spread, indicating market vulnerabilities. Additionally, the video touches on fiscal policy, the refunding announcement, and compressed term premiums in both real and inflationary spaces.

What vulnerabilities are identified in the market pricing based on the 210 spread?

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How does fiscal policy relate to the recent monetary policy focus discussed in the report?

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