Claims About Jobs

A week later, market participants are still asking questions about an anomalous US jobs report. The scorching NFP headline prompted Fed officials to concede (or, if you're Neel Kashkari, to reiterate) that the peak for policy rates may need to be higher than the Committee's doves previously expected. That, in turn, forced market pricing for the terminal rate above 5%, a meaningful development. There are myriad questions about the jobs data, but if you ask David Rosenberg, we might be missing t