Free Trial

Modest Dovish Moves In Fed Pricing As Labour Market Data Loosens Further

STIR

Modest dovish moves seen in the wake of the labour market report, with the uptick in the unemployment rate, negative revisions to the headline NFP print & “low” unrounded AHE figures outweighing the firmer-than-expected NFP number.

  • FOMC-dated OIS shows ~18.5bp of cuts through the Sep meeting and ~45.5bp of easing through year end vs. ~18.0bp and ~44.5bp pre-data.
  • A reminder that there has been a growing focus on Fed suggestions that a softer-than-expected labour market could provide a trigger for rate cuts.
  • While the labour market is by no means weak in headline figure terms, a loosening trend is becoming more apparent.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.