Today I burned into a barking dog, coughing 60 times a minute at the worst. Just woke up and saw the U.S. non-farm payroll data for November. First, the unemployment rate rose to 4.6%, higher than the expected 4.4%. This data is definitely bad news, but bad data is good news for interest rate cuts, especially since the Federal Reserve is currently focusing on the unemployment rate.

Secondly, the non-farm employment data is better than the previous value and expectations, which should be a result of the end of the shutdown. Then, the wage growth is declining. It might be a bit early to say we are in a recession right now, although the unemployment rate is at its highest point in four years, Powell still believes that the current unemployment rate is manageable.

After the U.S. stock market opened, the market showed slight strength, indicating that the market's attitude towards this information is still positive.

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