Mark Chandler – US Jobs Recap, Tariffs Return, and the Fiscal Reckoning Ahead
In this KE Report daily editorial, Marc Chandler, Managing Partner at Bannockburn Global Forex and Editor of the Marc to Market blog joins to dive into the surprising U.S. jobs data and what it means for Fed policy, the U.S. dollar, and global markets.
- Jobs Report Surprise:
The June nonfarm payrolls rose by 147,000, defying expectations of a weaker print. While headline numbers were stronger, falling labor force participation and softer hourly earnings point to a gradually slowing labor market. - Fed Rate Cut Outlook:
The data pushed back market confidence in a July rate cut and weakened expectations for a September move. Marc still sees a September cut as most likely – especially with slowing economic growth and tariff policy uncertainty on the horizon. - Tariffs, Tax Cuts & the Deficit:
We discuss the looming July 9th tariff deadline, the new tax bill’s impact on deficits, and the long-term consequences of structurally high U.S. spending. Marc flags growing concerns over who will fund future U.S. debt and how markets may eventually react. - Dollar Under Pressure:
The dollar’s downtrend may continue as the Fed lags behind other central banks in easing. With most global central banks front-loading rate cuts, U.S. divergence could weigh on the greenback. - Trickle-Down Tensions:
Can Reagan-era tax cut logic still hold in today’s economy? Marc challenges the trickle-down narrative, pointing to rising inequality and persistent fiscal imbalances.
Not sure were this lands in your technicals but I don’t see gold going down that far and absolutely not lower then than $3200 short term 3/5 months. I see gold building a base here and silver going much higher. Two different views unless you mention targets.
It’s showing too much strength in the face of seriously overbought readings so don’t be surprised if it goes much higher this year. Even $4500 wouldn’t surprise me. USA, Inc is in deep trouble.
https://schrts.co/ZrkSzYVI
Thanks matthew! This makes plenty of sense
DITTO…………. THE US is in SERIOUS TROUBLE…… MORE DEBT PLEASE… MORONS….
I personally do not believe in the BLS jobs report.
Ditto………. one big CON JOB….. as long as we have a FAKE GOVT.. the Numbers will be made up and Fake….. got to be a moron to believe the govt is telling the truth ,…. especially with a FEDERAL BANKING CABAL…. like duh…. stupid SHEEPLE….
2% inflation target…. LMAO…. been 8% or more per years…. dumb and dumber….
4th of July…………. Nothing as it seems…….. 🙂
Independence from who?
BBB……. passed …. like duh…. MORE DEBT… MORE SLAVERY…. Have a HAPPY 4th..
4th Turning….. think about it…. 🙂
If Congress would get rid of Citizens United and pass some legislations on campaign contributions they could tell Trump to stuff it and the people could elect someone that supports their oath of office.
CONGRESS is not for the WE THE PEOPLE…… that is a PIPE DREAM….
YOU VOTE FOR NO ONE…..
TERM LIMITS. … and END THE FED….. other wise FORGET IT……
Every potus since Coolidge has used their oath as toilet paper which I suppose makes sense considering the never ending shit show they’ve presided over.
I find it interesting that Carney has entered into a mining agreement with Greenland for critical metals development. Sounds like an opportunity coming.
I will bet that you think Carney knows what he is doing? LOL! DT 🤣🤣🤣
Not sure your point DT but the POTUS not only wanted to buy Greenland but also wanted to make your home part of the 51st State. So if We expand those thoughts, Denmark not happy about Greenland and the King of England not happy about Canada (much less every Canadian). Now I guess POTUS can attack Greenland so he can privatize their critical minerals that can be used for many Trump Towers in the Middle East or he could have tried to enter into an a agreement to develop or maybe even purchase Greenland’s critical minerals (as you know China has a corner on those resources). But POTUs didn’t.
Carney did.
Now relative qualifications for the art of the deal. POTUS wrote a book and had a TV show and went bankrupt 6 or 7 times as an agenda.POTUS did University of Penn with some Wharton. Not bad but pales to the Harvard and Oxford of Carney. POTUS went on to have a reputation as a con man. Carney was Goldman Sachs, Bank of England and Bank of Canada. Not sure which is better but probably have to prove your economic ability more the route Carney took.
I hope that in someway comes close to your suggestion. Still the same, there may be some investment opportunities surfacing from the Canada – Greenland critical minerals agreement.
Lake, you should do some studying on how difficult it is to mine in Greenland.
Carney told Canadians that they shouldn’t worry about tariffs on steel because the average Canadian doesn’t buy steel. I guess he doesn’t know the car he is being chauffeured around in is built with steel and so are the household appliances he uses like dishwashers, ranges, and refrigerators to name a few.
Look Canada needs to develop its own resources, and we have the second largest next to maybe Russia if not the biggest supply of untapped critical metals in the World. I didn’t think you would get it you never do. You still think that somebody with a university degree is a smart individual and if you have a degree from Harvard or Oxford you are smarter than someone who has a degree from the University of Penn. Getting a degree involves regurgitating information on an exam paper, it doesn’t teach you how to think. I doubt whether you will get my point this time either. LOL! DT 🤣🤣🤣
The World is full of “Dummies” with degrees, we need more boots and less suits. LOL! DT
“ Canada mining needs to develop Canada”.
Maybe that’s correct but I own several miners around the world that are Canadian mining companies. A mining company needs to go where the metals are. It is already known that Greenland has critical metals and that climate change is melting the ice cap. Sounds like it can be done if there is a shortage and a demand.
Lake, that’s fine but don’t restrict mining at home with environmental rules and regulations and promote elsewhere, double standards like allowing Brookfield Asset Management Carney’s company to invest heavily in pipelines in Brazil but tell Canadians you can’t build pipelines at home because they are environmentally bad for our country. “Don’t do as I do but do as I say”. DT
DT: Good points on Regulation being expedited to permit faster development. Supply/Demand has to be balanced with environmental requirements. There has to be recognition that miners have made progression in not only mining methods but environmental protections. Delays no longer necessary as meeting standards for development can be proven early.
Ditto DICK……………….” The World is full of “Dummies” with degrees, we need more boots and less suits. LOL! DT”
Gold is extremely monthly overbought but still looks like it’s going higher before it finally takes a break which just shows the seriousness of the dollar’s plight. Remember, fundamentals provide our technicals, not the other way around.
https://schrts.co/bNakJtSb