It's Friday, September 4th, 2020, just after market close in New York. This is the Real Vision Daily Briefing. I'm Ash Bennington in New York

joined shortly by our CEO and co-founder, Raul. But first, I sit down with Jack Farley

for an unscripted introduction.

Jack let's jump right in.

Sell off yesterday, lots of volatility today.

What do you make of the NFP numbers this morning?

Oh yeah, well, the non-farm payrolls, they came in at about 1.4 million just above the expected number.

So that was good, not great.

The real news of the day, as you know, is that the unemployment rate fell to 8.4% and that was well, well below what was expected, which was 9.8%.

And that's, you know, way way down down from the I think 14.7% we were in April so it's a good

headline the you six rate the under employment rate that decreased from 16.5% to 14.2% so I found that

interesting what what did you make of that ash? Yeah alternative measures of

labor under utilization.

When this becomes a cocktail party topic of discussion,

it definitely shows the labor market is under stress.

Yeah, so the jobs market, the market continued to plunge today.

So it wasn't received that well. Obviously everyone is

following the tape following the ticker and I am as well but one thing I was

reading a note of Charlie McEliot and he described it as the

tail wagging the dog and I think that's a great way of putting it because you know one

thing that I've been noticing and other people like

Jason Buck and Mike Green and Rall have been noticing is that the Vix has been

...