NFP is lagging, always, and doesn't move my needle much anymore

While NFP might be less of a shocker for immediate, knee-jerk reactions, I'd argue it still contributes to the overall narrative and can solidify trends. "Broader macro whispers" often need a catalyst to really gain traction, and NFP can certainly provide that, even if it's just confirming what many already suspected.

I generally agree that NFP's immediate impact seems to be diminishing for long-term positions. It often feels like the market has already priced in the likely outcome, with any sharp movements being more of a quick rebalancing. Are you seeing similar dynamics with other traditionally high-impact economic releases?

I can see your point about NFP's immediate impact feeling diminished, especially with algos front-running. However, I still find it valuable for confirming or contradicting the prevailing narrative, even if the initial move isn't what it once was.

While I agree that the immediate NFP reaction can be fleeting, it still provides a useful data point for confirming or challenging existing narratives. Ignoring it completely might be a bit complacent, especially when looking at the weekly jobless claims. What other metrics are you prioritizing for your market reads then?

I can definitely see that perspective. It's almost like the market has gotten so efficient at pricing in even subtle shifts that NFP is just another data point in a very crowded field. Do you think the 'surprise' factor is completely gone, or just really diminished?