Financial Conditions “Tightening Shock” Is Moving Markets Closer To A “Come To Jesus” Moment; Nomura Warns

The financial conditions (FCI) “tightening shock” which has occurred ever since The Fed ‘de facto hiked’ with their surprisingly aggressive SEP a few weeks back was further fueled yesterday by the incoherent JOLTS data (which this morning’s ADP print appears to completely dismiss).

Source: Bloomberg