MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NatWest Below Consensus For Payrolls

US OUTLOOK/OPINION
  • NatWest are at the bottom of the consensus range with a NFP forecast of growth slowing to 155k in March, the slowest monthly pace since Dec’20 (consensus 230k).
  • The boost from favourable weather in Jan/Feb likely waned as more typical temperatures prevailed.
  • The recent turmoil in the banking sector and the subsequent tightening in financial conditions may be indicative of some cooling in hiring as well. The recent and oncoming tightening in lending standards suggests payroll growth may slow down in the coming quarters. Our own model based on the Fed’s SLOOS signals a marked slowdown in payroll growth towards the end of Q1 2023.
  • They expect a further increase in the u/e rate to 3.7% after the two-tenths increase in Feb, backed in part by the edging lower in the Conference Board labor market differential.
  • AHE seen 0.3% M/M, with the Y/Y slipping from 4.6% to 4.3% but above the pre-Covid trend of ~3% Y/Y.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets
HomepageBulletMarketsFixed 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.