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“We believe we could be closer to a peak in the unemployment rate than some analysts expect,” he said. “For starters, it is worth noting that unemployment tends to keep rising until it suddenly reverses and begins moving back down…whenever the unemployment rate turns many market participants may miss it.”
-Joseph LaVorgna, Deutsche BankReally? Who'd have thunk? Unemployment rises until it reverses and moves back down? REALLY? Huh. Brilliant.