Big Bealed explains the non-farm negative, "the interest rate hike is no longer meaningful today."

On 9 August, in response to the unexpected reversal of non-farm employment data on Friday in the United States, Rick Reed, Chief Investment Officer of the Global Fixed-Income Sector in Beled, stated that the over-anticipated weakness of employment data last month reflected the “productivity revolution” of the age of artificial intelligence. In his view, the decline in non-farm employment reflected the fact that United States enterprises were learning how to expand their output without increasing the number of employees. He said, “I don't think that adjusting the overnight federal fund rate really solves the problem — a situation that we have seen before and I just don't think there's much to it today.”