Rick Rieder

You know, it's funny.

Thanks for having me on, by the way.

You know, it's a funny thing.

You know, I found that the industry's obsession with these individual days, and by the way, the payroll report's a great, great economic indicator.

The CPI report.

There is so much information that comes through the system.

By the way, my favorite, I read tons, maybe too many corporate earnings reports, and I look at what's happening with hiring, inventory management, receivables, etc.,

So there's still, I mean, would I rather have the data?

For sure.

By the way, I think the markets become hamstrung.

And I think part of why the markets are acting in this sort of paranoid, you know, what do people know?

What's the information out there manner today?

I think the, but, you know, I feel pretty good about knowing the structural direction of travel.

I think the economy's in good shape.

There are parts of it, it's not operating on all its cylinders, which we're talking about, CapEx is great, high income is doing well, low income in the consumer side, not so much.

But I feel pretty good about understanding, and listen, I think we have a softening of the labor market that is quite significant, and you see that, as you mentioned, the Challenger jobs report, you see that playing out.

You certainly see that when I look at all the corporate earnings in terms of that.

We have a softening labor market, and if we had the number today, I think it would have been reflective thereof.

You know, Matt, it's a great question.

By the way, this morning we went through credit card data.