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Happy Friday, and welcome to the three bucks.

Well, we're all here, I guess.

We're missing Jen.

She's up in Canada, lost.

They don't have internet sometimes.

So we are without her.

We're hoping that she's watching on YouTube right now.

But oh, well, we're going to kick it off talking about a lot of regulation today, some liquidations, and some other sad news.

It's kind of sad Friday story a day. Adam, I'm going to throw it to you to start off the day, though.

Yeah, thanks, Will. So this morning we're kicking things off with a new official number out of the

Department of Labor Statistics.

Markets and policymakers had hoped to see the top line number for new employment in June come in somewhere between 175 and 250,000 jobs added.

But the results were actually much better, showing an increase of nearly 375,000 jobs for the month.

Now, you'd think that good news would be well received by markets,

but in practice, that's often not how things work in the sort of modern era. That's because

central bankers have pumped so much money over the years into markets indirectly through

supportive monetary policy that when times are good and central banks have to ease off,

well, that's actually bad for markets. But there's another thing in today's report that is a little bit strange.

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