With Banks ‘Stable,’ Traders Look To US Jobs Report

With the US banking system in stable condition thanks to a $150 billion per week Fed liquidity drip+, traders are free to refocus on the data. And just in time for nonfarm payrolls. Consensus is looking for 240,000 from March's headline NFP print or, put differently, another robust read on a labor market which hasn't shown any signs of fatigue despite 475bps worth of rate hikes in just 12 months. Should NFP print ahead of estimates, it'd mark an 11th consecutive beat. That'd be a record going

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6 thoughts on “With Banks ‘Stable,’ Traders Look To US Jobs Report

  1. What’s your read on the UST long end continuing to rally lately? I get with the recent bank drama there would be a ‘flight to safety’ dynamic but that seems to be relatively subdued going into next week and as Powell put it ‘outlier cases’. It’s almost like the UST market simply ‘knows what’s up’ despite material data or fed pivot nods..

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