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Weekly Research Briefing: Well That Settles It
Friday's jobs data left no uncertainty about what the Fed's next move will be. Get out the scissors. Only 22,000 nonfarm payroll jobs were created in August and the downward June revision creating the first negative job growth month since COVID. While goods producing jobs continued to shrink, it was the pillars of job growth, healthcare and social services, which slowed the most.
Hamilton Lane Launches Global Private Secondary Fund
Hamilton Lane announced the launch of the Hamilton Lane Global Private Secondary Fund (HLGPS), an evergreen investment vehicle focused on the secondary market.
Weekly Research Briefing: And The Door Opens
In his last Jackson Hole symposium as chairman, Jerome Powell discussed all of the current influences on the Fed's dual mandate. But in his summary, he did open the door toward a potential lowering of rates if the risks to employment continue to grow. And so, the September jobs numbers will be very closely watched by all. If they arrive weaker, there will be a September cut. The bond market has already made this call and is betting on three rate cuts through January.