Free Trial
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 beat expectations in December with 216k (41k surprise) but was marred by larger two-month downward revisions (-71k), continuing a frequent pattern for 2023.
- Other details were generally stronger than expected albeit with slightly softer details.
- The unemployment rate surprised lower amidst continued large volatility in the household survey, which included a sharp downtick in participation, whilst average hourly earnings growth surprised stronger.
- On the flip side, average hours worked fell, the underemployment rate ticked higher and ISM Services employment in the separate release slumped.
- The net effect of Friday’s employment data was a consolidation in the recent sizeable trimming in what had been large rate cut expectations, with March cumulative pricing back at 17bps and 137bp of cuts for 2024.
PLEASE FIND THE FULL REPORT HERE:
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok