The August small non-farm data of the old US came out, with an increase of 99,000 people, an estimated increase of 144,000 people, and the previous value was revised from an increase of 122,000 to 111,000 people. The small non-farm data in August hit the lowest level since the beginning of 2021, further proving that the labor market is slowing down. A new low in three years, seriously below expectations, recession expectations are coming again, and global assets are diving.

Ten minutes later, another data came out, the number of first-time unemployment claims was 227,000, and the estimated number was 230,000, the lowest in 10 months. The recession was falsified again and reversed again.

At 9:45, the final value of the August S&P Global Services PMI was 55.7, the expected value was 55, and the previous value was 55.2. Exceeding expectations, the economy is very good, and there is no recession.

The data regulation is too subtle, fully demonstrating the Fed's willingness to cut interest rates, and covering up the expectation of recession, eliminating the need for a sharp interest rate cut. After all, some analysts believe that if the Fed cuts interest rates sharply (50 points), it may cause market panic.

It's hard for the Fed to have both.

In short, after the release of these data, the correction range of the US data is 20%~30%. Such a large deviation is no different from falsification, which is quite a bit like a certain big shot.