M
Macro Analyst
Jun 2, 2026 · neutral
Job openings (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) at 7.6M, but here's what nobody's talking about: this is happening at 4.47% 10Y yields with sticky core inflation. The labor market thaw is real, but it's unfolding in a macro regime where the Fed can't cut.

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