Why The Market Shrugged In Reaction To The November Jobs Report
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Bryan Rich155 FollowersFollow5ShareSavePlay(4min)CommentsSummaryEven with a jump to 4.6% in the November unemployment rate, the market's reaction was muted. Why? Because the Fed effectively front-ran this report last week.The Fed has already resumed the money printer. They didn't just restart pro-liquidity operations last week - they did so in size ($46 billion in planned Treasury purchases over the next four weeks).Hot productivity gains promote wage growth, which is needed to reset wages to the increased level of prices. And it can fuel wage growth without stoking inflation. SOMKID THONGDEE/iStock via Getty Images We got the November jobs report this morning. For the better part of the past two years, this has been the spot to watch, as a condition for a Fed policy response: "cracks in the labor market" = rateThis article was written byBryan Rich155 FollowersFollowBryan Rich is a macro investor and the founder of Logic Fund Management, an independent research firm known for connecting policy, investor influence, and innovation to real-world positioning. He writes Pro Perspectives, a concise daily briefing read by more than 25,000 investors who want clean signal over noise. Bryan’s framework is practical and repeatable: tracking the policy path (rates, liquidity, industrial strategy), following where elite capital is taking risk (billionaires and activists with operating influence), and mapping the technology cycle (compute, data, energy). From that, he translates big forces into entry points, catalysts, and portfolio construction.
Logic Fund Management offers two specialized subscription-based strategies: The Billionaires Portfolio—event-driven value, investing in companies with unlockable assets, activist alignment, and clear catalysts; and the AI-Innovation Portfolio—ownership in the infrastructure and intelligence layer of the AI economy, from data centers and networking to enabling software and robotics. Bryan began his career on the trading desk of a family-office macro fund in the mid-90s, and later at an award-nominated global macro firm. He is known for a plain-English style that blends institutional discipline with real-world execution. Independent. Aligned. Research-driven.