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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.
EXECUTIVE SUMMARY
- Nonfarm payrolls growth was close to expectations in November, even if private job creation was more underwhelming including a relative lack of breadth.
- However, every other main aspect of the report came in stronger than expected, even if rounding flattered some of the surprise to consensus.
- We had cautioned before the release of the potential for a pullback in the five cuts priced for 2024 in the lead-up to the release, and this played out with the market moving closer to 4.5 cuts over the year.
- Some analysts have noted similar, looking for a start to rate cuts closer to mid-year versus the more than 50/50 call that had been priced for March beforehand.
- CPI for November follows quickly on Tuesday before the FOMC decision with its updated SEP on Wed.
PLEASE FIND THE FULL REPORT BELOW:
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.
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