My Sources Say No. As I See It, Yes. Probably.

By Jon Nadler
04 December 2008 @ 10:16 am EDT

One quarter of a million US private sector jobs (the most in seven years) were lost in November as the economic downturn accelerated. Add the ISM's November non-manufacturing sector record shrinkage figures to that bit of news, and you get the general background picture for the markets as today's sessions got underway. Think Edvard Munch's "The Scream" for starters. And now the focus turns to pricing in more news of the same kind for the weeks ahead in December. Beginning with Friday's jobs numbers - expected to reveal some 320,000 lost nonfarm jobs.

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