With high-profile companies like UPS announcing layoffs, it’s easy to feel like the sky is falling. However, the JOLTS report, which measures Job Openings and Labor Turnover, showed a rise in December from 8.925 million to 9.026 million.

Despite this, the number of quits remained at 2.2%, suggesting a decrease in hiring and less poaching of employees from competitors.

On another front, the Case Shiller Home Price Index saw a 0.2% increase in November, marking a 5.2% rise from the previous year.

In contrast, the Apartment List Rental Report experienced a 0.3% decline, down 1% year-over-year. This marks the sixth consecutive monthly drop and is significant as shelter costs are a key component of inflation.

The Bond Market reacted predictably, experiencing a slight hit to rates.

Tomorrow, the Bond Market will respond to the ADP Employment Report and the Federal Reserve’s statement at 2 pm EST.