(https://www.marketwatch.com/story/a-frozen-labor-market-might-be-thawing-out-u-s-job-openings-and-hiring-leap-to-2-year-high-ad21bf79?mod=mw_rss_topstories) — the highest in two years. This directly contradicts the 'labor market is cratering' narrative that's been propping up rate-cut hopes and defending long-duration equity multiples. The macro regime just shifted: we're not moving toward easier financial conditions, we're moving away from them.

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