"No silver lining to this jobs report"

DC Lite #551

Author

Daily Chartbook
March 06, 2026

Welcome back to DC Lite: Daily Chartbook’s free, entry-level newsletter containing 5 of the day’s best charts & insights.

1. NFP. "No silver lining to this jobs report. Yes, payrolls were hit by a 31K jump in strikes and a birth-death model which was 36K less generous than last Feb. But even excluding these factors, payrolls would have fallen (25K rather than 92K) and we know revisions worsen the picture".

2. Unemployment duration. "Average week unemployed is now back to levels not seen since early 2022, well above 2019 levels."

3. Refined products. "The current logistics nightmare will show up most acutely in the price of refined products. Benchmark crude prices are masking the stress ... Jet fuel (in both Europe and Singapore) provides an example. While Brent crude is up ~30% YTD, jet fuel, in both Europe and Asia, has almost tripled."

4. Commodities. "Gold tends to move first. Copper follows. Energy is moving now. Agricultural commodities are likely next."

5. VIX. VIX closed at its highest since the Apr'25 tariff (and above the +1 StD level).

ICYMI

Wednesday’s outflow from $GLD was the largest since 2016

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www.dailychartbook.com/p/wednesday-s-outflow-from-gld-was-the-largest-since-2016-d92f

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5 key charts on US services, MAG stocks, and market insights | ISM PMI, business activity, inflation trends and expert analysis.

www.dailychartbook.com/p/this-is-a-logical-place-for-the-mags-to-catch-their-breath-7f14

Equal-weight stocks ($RSP) saw a record $5.9bn inflow in February

Equal-weight stocks hit record $5.9bn inflow in February | 5 key charts on inflation expectations, market insights and daily trends from Daily Chartbook.

www.dailychartbook.com/p/equal-weight-stocks-rsp-saw-a-record-5-9bn-inflow-in-february-a07d

Retail investors rotated from stocks to bonds in February

5 of today's best charts: retail rotation from stocks to bonds, PMI cycles, earnings backdrop shifts, institutional holdings lag, and market breadth insights.

www.dailychartbook.com/p/retail-investors-rotated-from-stocks-to-bonds-in-february-5e18

DC Lite #546

The Mag 7 closed below the 200-day moving average for the first time since May'25

www.dailychartbook.com/p/dc-lite-546

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