There is currently a tentative settlement that still needs to be ratified by the rank and file.The reported wage settlement is 12% over 3 years versus 9% over 4 years. There are also a lot of reports about unhappy Union Members, in a splinter group, calling for rejection of the new contract.There were also some reports about City employees, Cops and Teachers, looking at the MTA contract and indicating they would expect similar if not better treatment.What does all this mean? The word starts with an In and ends with a flation. Watch those bond yields as the bulls vacate the playing field.
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