Big and Beautiful might be an overstatement of the jobs report, but once again, it looked solid, certainly relative to ADP. We were looking for something more in line with ADP, but this report was better, and while there are some “quibbles,” the report was more consistent than the previous month’s. The Establishment Survey once again beat expectations. Only one economist who submitted an estimate to the Bloomberg survey was above 147 (I find it incredibly hard to believe that so many people with so many resources could get it that wrong, but apparently that is the case). It is ... NFP and The Bill – Big and Beautiful