US August Challenger job cuts fall 38.5% YoY

The sharp year-over-year drop in announced job cuts reinforces the narrative of a resilient labor market, which could factor into how rate-sensitive assets are priced. For crypto and RWA markets, this matters because persistent labor strength may reduce the urgency for policy easing, potentially keeping liquidity conditions tighter than some expect. The open question is whether this deceleration in layoffs holds as we move into the final quarter, especially if corporate cost-cutting re-emerges. That trajectory will be more telling than any single month's print.