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Friday, Jun 28
The falling unemployment rate signals exactly what it suggests, says JPMorgan's Brandon Odenath...
The falling unemployment rate signals exactly what it suggests, says JPMorgan's Brandon Odenath - the labor market is improving, hastening the end of QE and ultra-low interest rates. The meme of a declining labor force participation rate leaving headline UE devoid of meaning is mistaken, claims Odenath. Falling participation is less to do with discouraged workers and pretty much everything to do with the secular trend of an aging population. Ignore this reality at your own risk, he warns fixed income investors (AGG, BND).