(More) Roses Amid Garbage and Trap Doors

Published on May 8, 2026

“Loving the bubble” doesn’t mean taking risks that rely on the bubble to be permanent. Instead, it means finding more flexibility in our outlook, ideally with a safety net in periods we’re able to be constructive. We can now apply that flexibility to a larger set of constructive instances. Now is still not one of them.

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Employment Report: 115K Jobs Added in April, Better Than Expected

May 8, 2026
The latest employment report showed that 115,000 jobs were added in April, down from March's 185,000 gain. This figure was better than the projected addition of 65,000 jobs. Meanwhile, the unemployment rate remained at 4.3%, as expected.

Michigan Consumer Sentiment: Falls Further to Another Record Low

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Consumer sentiment inched down further this month, hitting another record low. The preliminary May reading for the Michigan Consumer Sentiment Index came in at 48.2, a 1.6-point drop from April's final print and below the projected 49.7 reading.