CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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

Strong NFP Step in Right Direction on “Substantial Further Progress”

DATA REACT

Fri's better than expected July NFP jobs gain of +943K vs. +858k est (+850k Jun), increases the debate on when the labor market will meet the FOMC's criteria of 'substantial further progress' Wells Fargo economists said, while the increasing spread of Covid Delta-variant "clouds the outlook" somewhat.

  • "Fed officials will likely be pleased with July's progress, but we ultimately think they will want to see further ground recovered and if constraints boil down to short-term frictions or longer-lasting damage before kicking off tapering."
While a step in the right direction, Wells said the Fed likely needs additional progress and "better visibility on labor supply" before tapering QE.
  • "A clearer picture of whether the current weakness in the labor supply largely boils down to short-term frictions or longer-lasting damage will probably not emerge until the October jobs report is released on November 5, two days after the November FOMC meeting concludes."
BulletMarketsFixed Income BulletsForeign Exchange BulletsHomepage

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.