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Quicktake on NFP: Morgan Stanley

US DATA
Well off current consensus of +205k jobs on Fri's NFP, Morgan Stanley economists are only estimating a gain of 60,000 jobs in February after January's gain of only 49,000.
  • MS see the unemployment rate increasing from 6.3% to 6.4%, and average hourly earnings increasing by 0.2%M, lowering the year-over-year rate by 0.1pp to 5.3%.

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