And that, folks, is the week.
Don’t worry, December is still in play.
“Numbers have more and more immediate effect with little lasting impact.”
Well, there’s not a lot going on in the week ahead and by that I mean there’s so much going on that you couldn’t plan for it even if you wanted to.
Bad news for stocks?
U.S. Sept. Nonfarm Payrolls Fell 33k
Avg. hourly earnings 0.5% m/m, est. 0.3%, prior 0.2%
“The dollar needs the rise in US yields to get its mojo back – or else.”
Ok, it’s time for everyone to try and read the tea leaves from the August jobs report, although honestly, this seems like one of those cases where most of what you need to know is in the headline prints. Now that doesn’t mean there aren’t some juicy nuggets (not the McDonald’s ones Trump likes) buried…
You want a reason to be dovish, you’ve got one now.
Well, it’s jobs day and there are a couple of ways you can approach the August print.
Ok, so the overarching narrative for this week shouldn’t be materially different from last week – people will be concerned about the same things, namely the looming debt ceiling debate, the odds of a government shutdown which ebb and flow with whatever shows up on Trump’s Twitter feed, and the fallout from North Korea’s latest…
“Of course all other data – including housing and real estate, the industrial sector, the personal/household sector and retail & wholesale – generally speaking continue to disappoint.”
“…and I have only just begun.”
U.S. July Nonfarm Payrolls Rose 209k; Unemp. Rate at 4.3%
Avg. hourly earnings 0.3% m/m, est. 0.3%, prior 0.2%; Y/y 2.5%, prior 2.5% est. 2.4%
Well, here’s hoping this week lives up to last week…