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MNI ASIA OPEN: October Jobs Gain Expected to Slow

EXECUTIVE SUMMARY

US

MNI: US Payrolls Preview: Storms and Strike Uncertainty
Nonfarm payrolls growth is expected to slow materially to circa 100k in October after a booming 254k in September, with significant disruption from strikes and potential hurricane fallout. The Fed’s Waller has previously estimated this could drag 100k from payrolls this month although that appears right at the top end of analyst expectations.

NEWS

MNI US Election Preview
Please find attached an updated copy of the US Election Preview published by MNI's Political Risk Team on October 30. The content is unchanged but some minor formatting issues have been resolved. Full PDF article: 2024 US Election Preview

MNI UK FISCAL: No. 10 Spox Refuses To Comment On Market Moves Post-Budget
PM Sir Keir Starmer's spox, asked by reporters on the market reaction to the Budget, says "We don't comment on market movements." Says the Budget "has been about restoring fiscal stability [...] there are two new robust fiscal rules". Spox: "Tough choices were necessary to fix the foundations of the UK economy". For more see 'GBP: Aggressive Pick-Up in Volumes Pressures GBP to Multi-Month Lows', 1410GMT', and 'GILTS: Yield Jump Notable Not Exceptional, Could Be Sticky Given Drivers', 1548GMT.

MNI EU: Parliament To Vote On New Commission 27 November
The publication of the draft agenda for the European Parliament's 25-28 Nov plenary session in Strasbourg has confirmed that MEPs will vote on the new College of Commissioners on Wednesday 27 November. If the vote is successful this means Commission President Ursula von der Leyen's second term will begin on 1 December. 

MNI RUSSIA: Lavrov To Meet w/China Rep Amid Backlash At NK Troops In Ukraine
Foreign Minister Sergey Lavrov has been speaking at a meeting of the Minsk International Conference on Eurasian Security taking place presently in the Belarusian capital (the event is billed as a Eurasian counter to the Munich Security Conference). 

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EXECUTIVE SUMMARY

US

MNI: US Payrolls Preview: Storms and Strike Uncertainty
Nonfarm payrolls growth is expected to slow materially to circa 100k in October after a booming 254k in September, with significant disruption from strikes and potential hurricane fallout. The Fed’s Waller has previously estimated this could drag 100k from payrolls this month although that appears right at the top end of analyst expectations.

NEWS

MNI US Election Preview
Please find attached an updated copy of the US Election Preview published by MNI's Political Risk Team on October 30. The content is unchanged but some minor formatting issues have been resolved. Full PDF article: 2024 US Election Preview

MNI UK FISCAL: No. 10 Spox Refuses To Comment On Market Moves Post-Budget
PM Sir Keir Starmer's spox, asked by reporters on the market reaction to the Budget, says "We don't comment on market movements." Says the Budget "has been about restoring fiscal stability [...] there are two new robust fiscal rules". Spox: "Tough choices were necessary to fix the foundations of the UK economy". For more see 'GBP: Aggressive Pick-Up in Volumes Pressures GBP to Multi-Month Lows', 1410GMT', and 'GILTS: Yield Jump Notable Not Exceptional, Could Be Sticky Given Drivers', 1548GMT.

MNI EU: Parliament To Vote On New Commission 27 November
The publication of the draft agenda for the European Parliament's 25-28 Nov plenary session in Strasbourg has confirmed that MEPs will vote on the new College of Commissioners on Wednesday 27 November. If the vote is successful this means Commission President Ursula von der Leyen's second term will begin on 1 December. 

MNI RUSSIA: Lavrov To Meet w/China Rep Amid Backlash At NK Troops In Ukraine
Foreign Minister Sergey Lavrov has been speaking at a meeting of the Minsk International Conference on Eurasian Security taking place presently in the Belarusian capital (the event is billed as a Eurasian counter to the Munich Security Conference). 

Keep reading...Show less