Tom Lee: Tonight's non-farm payroll data proves the market's inflation concerns are overblown.
2 hours ago
Tom Lee weighed in on tonight’s unexpectedly weak non-farm payroll data, noting the market is suffering from "inflation disorder". Even as inflation is on a downward trajectory, the market remains impatient and hawkish. "After the jobs report, the probability of a September interest rate hike plunged from 75% two weeks ago to below 40%. Many economists had previously advocated an early rate hike, and this reaction underscores the market’s excessive concern over inflation." Lee advised investors to avoid misjudging the current situation by clinging to memories of 2022’s high inflation period.
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