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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.
US OUTLOOK/OPINION
In case you missed our Policy Team's article late Wednesday, the monthly read of nonfarm payrolls from St Louis Fed economist Max Dvorkin stands at +638k for May (on a seasonally-adjusted basis; +911k not seasonally adjusted).
- The model uses weekly data from time-tracker software provider Homebase and closely tracks the Labor Department's household survey measure of employment.
- As always we take that modelled point estimate with a grain of salt, but overall Dvorkin's read of the data points to continued strength in hiring, and wage inflation off its peak but still hovering at fairly strong levels.
- Consensus median is +195k ( +253k prior), though the "whisper" number stands slightly higher at +219k. MNI's payrolls preview will be out later today following some of the upcoming labor market data (ADP payrolls, Challenger job cuts, and weekly claims).
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.
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