Phantom Payrolls and the 56,000 JPY Bull-Trap Singularity: How Headline Labor Surprises Accelerate AI CapEx Deflation, Yen Carry Unwind to 120 JPY, and QFS-zkVM Margin-Call Interlocks
Headline employment upside surprises create a Phantom Payroll Divergence, where overall job additions hide structural contractions in high-wage white-collar technology payrolls [p.3].









