Five reasons why -818K jobs might not be bad news at all ...Middle East

The release of the US benchmark revisions to employment for the year ending in March were something of a mess and the market clearly doesn't know what to do with it.There was an odd spike in USD/JPY when the numbers should have been released, followed by all kinds of rumours before the -818K number was finally released.Then stocks ripped higher but are now below pre-data levels and bonds are bid but not as strong as before.Here is the positive view on 818K job losses:1) It gives the Fed cover to cut ratesIf the case for a September cut and 3 cuts on the dot plot wasn't strong, it's stronger now.2) A lower baseSo going into the year through March, there were 818K fewer jobs. Maybe now that cl

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