The Fed points to stabilisation, but the data tell a more cautious story. While headline unemployment has edged only slightly lower, a rising share of consumers reporting that jobs are hard to get — alongside weakening labour indicators — suggests underlying softness in the labour market.

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Payden and Rygel

Payden & Rygel is one of the largest privately-owned global investment advisers. Founded in 1983, they manage fixed income and equity portfolios through domestic and international solutions.

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