This made even less sense than last month's rout, because today's reported employment change was not even all that unusual. When we compare the March gain of 140,000 with the January-February average and with monthly changes going back to last June we find that 6 out of the past 9 months have had greater monthly gains than the change for March. Thank goodness the stock market wasn't open today. Maybe the three-day weekend will give stock market participants a chance to pause and reflect on the facts of the situation, and they will decide to behave rationally when Monday morning rolls around.
Hope springs eternal.
The bozos bombed both the stock and bond markets today. But, as I said on Friday, I'm fully confident in the long-term prospects for all my stocks. I know the reasons why I bought them, and those reasons are still valid. If they could, they wouldn't have behaved the way they did today. February marked the 33rd consecutive monthly rise in consumer installment credit.