MNI BRIEF: German Infl In Line With EA, Growth Lags - GCEE

MNI BRIEF: Focus Support For Cutting-Edge Tech - Ministry

MNI BRIEF: EU Won't Necessarily Follow US on Tariffs-Gentiloni

MNI China Daily Summary: Wednesday, May 15

MNI: PBOC Conducts CNY125 Bln 1Y MLF Weds; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1049 Weds; -3.97% Y/Y

MNI: US MAR BUSINESS INVENTORIES -0.1%; SALES -0.1%

MNI: US NAHB HOUSING MARKET INDEX 45 IN MAY

Home Sales And Prices Down In April

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MS: Below Consensus For AHE As Workweek Increases

US OUTLOOK/OPINION
  • Morgan Stanley see NFP growth of 183k (private 154k), very close to consensus in a step down from the 236k in March.
  • The strong April seasonal hurdle should favor a weaker print (especially from professional services, leisure & hospitality and construction), whilst labor market indicators pointing towards labor hoarding mean less seasonal fluctuation in hiring should be a drag on April jobs numbers.
  • Balanced weather risks: the April survey week saw higher temperatures around the US but at the same time higher precipitation in the Midwest.
  • AHE seen increasing 0.2% M/M with the softer print driven by a step up in the workweek to 34.5hrs. With base affects fading, the Y/Y rate is on track to fall to 4.1%.
  • The unemployment rate is seen rising a tenth to 3.6% as participation increases from 62.62 to 62.69%. They expect participation gains and the slowing in job growth will push the u/e rate to 4.1% by end-23 and 4.3% by the end of 2024.
HomepageMorgan Stanley Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.