FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FED: Daly Puts More Weight On Anecdotal Evidence Over Noisy Payrolls

FED
USGlobalEM BulletFederal ReserveCentral Bank NewsFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America
  • Daly: The labor market report never gets the central focus on our, or my, attention. It's a piece of information as all other pieces are. When they're noisier, they give us some information but in an inflexion point or when we're changing the policy stance you can't rely on backward-looking data.
  • We’re out constantly in our regional communities asking businesses of all sizes, worker groups, community leaders etc, asking what are they seeing and doing.
  • Right now, more than a labor market report that has a variety of disruptions that you’ve named (hurricanes etc) in it, I’ll be asking at my roundtables are you slowing hiring, managing your headcount through attrition like you have been, how close are your layoff plans. Those are the kind of questions that tell you what they're thinking about. 
134 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Daly: The labor market report never gets the central focus on our, or my, attention. It's a piece of information as all other pieces are. When they're noisier, they give us some information but in an inflexion point or when we're changing the policy stance you can't rely on backward-looking data.
  • We’re out constantly in our regional communities asking businesses of all sizes, worker groups, community leaders etc, asking what are they seeing and doing.
  • Right now, more than a labor market report that has a variety of disruptions that you’ve named (hurricanes etc) in it, I’ll be asking at my roundtables are you slowing hiring, managing your headcount through attrition like you have been, how close are your layoff plans. Those are the kind of questions that tell you what they're thinking about.