Following months upon months of standout jobs reports, the narrative for specialty finance firm Pennymac Mortgage (PMT) seems rather discouraging, to put it diplomatically. Yes, a robust labor market is what society seeks yet it can also be a double-edged sword when dealing with inflation. After all, an increase in gainfully employed individuals translates to more dollars chasing after fewer goods – that’s inflationary. Not surprisingly, then, traders in the derivatives market have let their voices be heard. From the face-value interpretation – and upon a closer inspection into the granularity…