Wednesday - February 11, 2026
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 569 Ratings
🗓️ 11 February 2026
⏱️ 8 minutes
🧾️ Download transcript
Summary
In this episode of Dividend Cafe, Brian Szytel provides an update on a mixed market day with little movement in the indices. The DOW dropped by 66 points, the S&P was flat, and the Nasdaq saw a slight decrease. Bond yields rose following a strong non-farm payroll report, which showed 130,000 new jobs against an expected 55,000, led by the healthcare sector. The unemployment rate also decreased to 4.3%, while hourly wages grew by 0.4% for January, totaling a 3.7% year-over-year increase. Labor force participation ticked up to 62.5%. Szytel addresses questions about inflation perceptions versus reported CPI, explaining the difference between disinflation and deflation. He concludes with a reminder that good news should be seen positively and notes market reactions to Federal Reserve rate expectations.
00:00 Introduction and Market Overview
00:27 Employment Report Insights
01:25 Labor Force Participation Trends
04:00 Inflation and Personal Experience
05:20 Conclusion and Final Thoughts
Links mentioned in this episode: DividendCafe.com
Transcript
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| 0:00.0 | Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:12.2 | Good evening and welcome back to Dividend Cafe. This is Brian Sightel with you. On a bit of a down day, I'd call it really just mixed in the market and lackluster |
| 0:23.3 | as far as the indices are concerned. We had the Dow that was down about 66 points. SMP was |
| 0:29.9 | completely flat. Nasdaq was just marginally down by about 15 basis points. So stocks are pretty much |
| 0:35.6 | unchanged. Bonds actually sold off today. You had yield to rise. Tenure was up three basis points. So stocks are pretty much unchanged. Bonds actually sold off today. You had |
| 0:38.7 | yield rise. Ten year was up three basis points, but across the entire yield curve, interest rates |
| 0:43.9 | went up a little bit. And there's reason for that. Today we got a delayed non-farm payroll report |
| 0:49.2 | from last week that was much better than expected. So good news. We got 130,000 new jobs when only about 55,000 were |
| 0:57.2 | expected. And we got broad-based participation in that as well. Mainly the health care sector |
| 1:03.7 | was probably the largest contributor to the numbers. But nonetheless, it was a good read. And then |
| 1:08.6 | the unemployment rate actually tick lower by 10th. |
| 1:11.6 | We got 4.3% from 4.4. So good news on employment. Inside of that, you also had hourly wages that went up more than expected. |
| 1:20.9 | We got a 0.4% increase for the month of January. That puts 3.7% year over year. |
| 1:26.9 | So if you think about inflation being somewhere near 2.6 and |
| 1:30.0 | hourly wage is growing at 3.7, that's a positive thing for the economy, for the average |
| 1:35.5 | consumer, for the country, frankly. And then lastly, we also look at the labor force participation |
| 1:41.6 | rate. It actually did tick up a little bit, which is really a good sign. We talk about this for years, frankly, at this point. But the labor |
| 1:48.8 | force participation rate has just been abysmal, really, for since really the, I'd call it |
| 1:54.1 | the early odds. Since 2004 period of time, the last 20 years, it's been lower than it has been. |
| 2:01.9 | So we've been in this sort of low 62% range. We're now at about 62.5. In the mid-90s for perspective, through the early 2000s, |
| 2:09.0 | we were a lot closer to the 67% rate. And the difference in some of the changes are |
| 2:15.7 | demographic-based. So there's baby boomers that are |
... |
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