The mood in markets has improved further with S&P 500 futures up 44 points now to 3872.
Some of that came after WSJ Fedwatcher Nick Timiraos tweeted:
Revisions to average hourly earnings data paint a marginally less worrisome picture for the Fed on wages than the Nov report
The upturn in wage growth in Nov (originally reported as +0.6%) was revised (to +0.4%)
The 4.6% annual wage growth in Dec was the lowest since Aug '21
This has been an impressive reaction and the market is now thinking the Fed could stick the landing.
