MNI: Canada Has CAD2.9B Q1 Budget Deficit Vs Prior Surplus

CANADA Q2 ANNUALIZED GDP +2.1% VERSUS +1.7% EXPECTED

MNI China Daily Summary: Friday, Aug 30

MNI BRIEF: China Aug PMI Contracts For Fourth Straight Month

MNI: US JUL PERSONAL INCOME +0.3%; NOM PCE +0.5%

MNI BRIEF: PBOC Bought Net CNY100 Billion CGBs In August

MNI: BAKER HUGHES US RIG COUNT 583; OIL RIGS 483; GAS RIGS 95

EZ/UK Bond Supply Calendar: UK, ESM Syndis; AS, DE Due Tuesday

MNI Chicago Report™: 27% Have Contingency Plans Due to Adverse Weather

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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

What to Watch: May Employment

MARKET INSIGHT
Tsys trading marginally weaker (30YY 3.0821%), curves flatter (2s10s -1.377 at 25.821) ahead May headline employment report. Light volumes (TYU2 <190k) with London out for Platinum Jubilee holiday.
  • Market reacted negatively to reports of Elon Musk email to Tesla execs: "pause all hiring worldwide" late Thu. Reuters reported Musk would like to cut 10% of Tesla's workforce due to a "super bad feeling" about the economy. Meanwhile, May car sales <13M annualized: "recessionary level" according to RBC analysts.
  • Headline economic data coming up at 0830:
    • Change in Nonfarm Payrolls (428k, 325k)
    • Change in Private Payrolls (406k, 301k); Mfg (55k, 39k)
    • Unemployment Rate (3.5%, 3.5%)
    • Average Hourly Earnings MoM (0.3%, 0.4%); YoY (5.5%, 5.2%)
    • Labor Force Participation Rate (62.2%, 62.3%); followed by:
    • S&P US Services PMI (53.5, 53.5); Composite PMI (53.8, 53.8) at 0945ET and
    • ISM Services Index (57.1, 56.5), 1000ET
  • Fed speak:
    • Fed VC Brainard on Comm Reinvestment Act, no text, Q&A, 1030ET
    • Cleveland Fed Mester, CNBC to discuss employment report, 1340ET
  • No US Tsys supply, auctions resume next week w/ $44B 3Y, $33B 10Y R/O, $19B 30Y R/O.
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.