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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
- Released Friday 0830ET, Bloomberg consensus looks for still strong nonfarm payrolls growth of 225k in February after the storming 517k of January. If both still stand it would be only limited payback after mild weather and favourable seasonal factors seen in January.
- Revisions to that January figure are likely to play an important role after Fed Chair Powell opened the door to a 50bp hike in his Senate appearance.
- A consensus reading with minimal revisions could pave the way for 50bp on Mar 22 barring any CPI surprises Tuesday, but notable downward revisions and/or February payback could draw a significantly dovish reaction after the ramping higher of Fed rate expectations.
- Also watch average weekly hours worked after their surprise surge, a not expected but potential tick higher to the u/e rate on rounding (3.43% in Jan) and AHE growth with primary dealer skew to a hawkish surprise.
PLEASE FIND THE FULL NOTE 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.
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