Goldman Admits Payroll Data Is "Economically Meaningless"

"So, the bottom line is that market moves off the headline data releases of the Payrolls and GDP are inefficient and based on a false belief that this data in some way indicates improving (or deteriorating) economic conditions. Once again, investors have been fooled by an ongoing mythology about the often noisy (and always revised) data and the mainstream media's need for a headline upon which to hang the manipulation-du-jour."