MNI China Daily Summary: Monday, March 20

MNI BRIEF: Taiwan Export Orders Down In February

(RPT) MNI INTERVIEW: Credit Crunch Looms On Bank Runs - Stein

PPI Continues to Ease in Feb as Energy Prices Decline

MNI: GERMANY FEB PPI -0.3% M/M (FCST -1.4%); JAN -1.2%r M/M

Coming up in the Asia-Pac session on Monday

MNI BRIEF: Fed, Treasury, FDIC-Big Banks Back First Republic

MNI BRIEF: Trudeau Justified Using Emergency Act, Judge Finds

MNI: Canada Boosting Health Spending CAD46.2B Over 10 Years

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No Signs Of Weather Impact In Bumper Payrolls Report

US DATA
Fixed Income NewsHomepageBulletMarketsEmerging Markets NewsForeign Exchange News
  • Adverse weather impacts had been in focus prior to payrolls after ADP had linked its softer than expected 106k in private employment to California record floods and back-to-back storms delivering ice and snow to the central and eastern U.S.
  • The strength in the payrolls data suggested that wasn’t the case and indeed, the number of those not at work due to bad weather in the separate household survey was only 251k.
  • That non-seasonally adjusted figure is consistent with the prior 10-year January average of 273k, with the highest being 496k from Jan’18 and the lowest 176k from Jan’21, and if anything is lower than normal considering population growth over that period.

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  • Adverse weather impacts had been in focus prior to payrolls after ADP had linked its softer than expected 106k in private employment to California record floods and back-to-back storms delivering ice and snow to the central and eastern U.S.
  • The strength in the payrolls data suggested that wasn’t the case and indeed, the number of those not at work due to bad weather in the separate household survey was only 251k.
  • That non-seasonally adjusted figure is consistent with the prior 10-year January average of 273k, with the highest being 496k from Jan’18 and the lowest 176k from Jan’21, and if anything is lower than normal considering population growth over that period.