Randall Forsyth culls the attached text: That was despite some backpedaling on Friday, following January’s employment report, which was less spectacular than the 225,000 increase in nonfarm payrolls would suggest. Relatively warm weather helped construction jobs rise by 44,000, after seasonal adjustment, four times their average gain of the past year, notes TLR on the Economy. The unemployment rate ticked up by 0.1 of a percentage point, to 3.6%, but for the positive reason that more folks entered the labor force.

Randy Forsyth posted a nice round-up of “high-wire” IPOs in Barron’s on Saturday, quoting some research we published last week:

“Wacky IPOs might be a sign that the long bull market is finally entering its blowoff phase (though these can take some time),” write TLR on the Economy’s Philippa Dunne and Doug Henwood. Though they admit they’re spoilsports, they point out that since 1980, IPOs have underperformed the broad market by over 18 percentage points, according to data from Jay Ritter of the University of Florida.

If you subscribe to Barron’s, read on….

https://www.barrons.com/articles/high-wire-ipos-like-pinterest-and-zoom-could-signal-a-market-top-51555711052

We are happy that the formidable Kate Welling is a long-time reader of our work, and a wonderful friend, and are always pleased when she republishes our stuff, in this case, “Call it What it Is,” it being the deficit-financed tax cuts.

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