Down, Down, Down! Challenger Job Cuts Rises 67.6% Following Worst US JOLTS Report Since Covid Outbreak (Conference Board Predicts 96% Probability Of Recession Over Next 12 Months)

confoundedinterest17 #bubble, #inflation, #wine, Agency MBS, Bank of England, Bank of Japan, Banking, Bernanke, CMBS, CRE, Credit, ECB, Economy, Existing Home Sales, fannie mae, Fed, Freddie Mac, GDP, Gold, Housing, Inflation, Jobs, Mortgage, Natural Gas, Oil, Powell, Silver, Treasuries, Treasury, Uncategorized, Wages, Yellen October 6, 2022October 6, 2022 1 Minute

Challenger US Job Cut Announcements for September rose 67.6%, the highest since … Covid-19 outbreak in early 2020. This comes after the JOLTS (job openings) fell the most since … Covid-19.

And with rising US job cuts, we are seeing an increase in the probability of a US recession over the next year. But the Conference Board predicts a 96 percent likelihood of a recession in the US within the next 12 months.

Apparently, the US is going down, down, down.

This index quantifies sentiment using 6 factors — price breadth, pairwise correlation, low vol perf, defensive vs. cyclical sector perf, high vs. low leverage perf and high yield spreads.

It’s currently as panicked as in 2008!