So there you have it. Two of the worst job data prints we have ever seen. Yesterdays 6.6 MILLION new unemployment claims and this mornings negative 700k payroll hit.
It's another 'The World is Ending' moment. We are in the panic first, think later phase of the latest market correction. Those bearish market pundits who were telling you to sell every step of the way since 2010 are pinning their hopes on this Coronavirus to finally validate their 10 years of negative market perspective.
Back in September when all this Repo madness was reaching a 'tipping point' , I mused at the time it may trigger the FED to re-start QE to re-lube the markets.