Julia Coronado

He did not like the Fed using its balance sheet.

He didn't like lower rates or easy money.

And of course, that's exactly what he's promising to fight for now, or he wouldn't have gotten the job from President Trump.

So there's a bit of confusion.

But the market was, you know, amongst the four finalists, he was maybe the least dovish or the least easy money leaning.

And that may have been one of the catalysts for the metals correction.

And then that spilled over into a crypto correction over the weekend.

And now we have some stock future pressure.

But again, we have been on such a crazy, relentless tear in many of these markets that it's almost an excuse for a pullback rather than pointing the finger directly at the Kevin Walsh nomination.

The big annual revision.

So remember last fall, we got a preliminary peek at that, and it was a large downward revision of 900,000 jobs lower than previously estimated.

All of that gets worked into the data report.

in a very detailed way with the report this Friday.

So we get to see what is the true hiring rate that we are at, or at least a bit closer to reality.

And that's always very exciting for data wonks like myself.

The yen has been under a lot of pressure on fiscal expansion plans, and pretty alarmingly so.

And the reason we care about this is because Japanese investors buy a lot of treasuries.

So there is some notion that the U.S.

and Japan might be coordinating to stabilize the yen because that would help prevent upward pressure on U.S.

interest rates.