Global Macro Perspectives
Equities In the macro arena we have leading indicators rolling over, and a stream of worse-than-expected data pieces on U.S. housing, U.S. employment, U.S. durable goods ordered and large move lower by consumer confidence. Seems that the markets do not appreciate the data. Things that move the markets are only FED policy on rates, dollar […]
Well, I was wrong. Nonfarm payrolls for December were reported at -85.000 vs 10.000 consensus and 4.000 the month before (revised up 15.000). Unemployment rate was unchanged at 10.0%. Average hourly earnings was up 0.2% vs. 0.1% consensus and 0.1% in November. Average workweek was unchanged at 33.2 hours. A negative surprise. Weak negative reaction […]
As I already wrote in multiple posts, I expect employment figures to post a positive surprise on Friday. Well, it seems that the Labor Department seasonal adjustments will provide large help to report positive data. New York Post Story: Why the government’s job figures won’t add up. Since so few jobs were created in December […]