Jobs number puts four hikes on the table. Watch for QT increase and curve flattening

The US jobs number just came out and the figures were quite good. Two-year yields spiked on the news. So expect further curve flattening and potentially signs of a more aggressive quantitative tightening as well as a fourth 2018 rate hike in December.

Let me get this up quickly before I do a more in-depth analysis later.

Now, President Trump frontran the numbers by tweeting about them this morning. So there was widespread suspicion they would be good since he has access to the numbers the day before. The headline numbers were a 3.8% unemployment rate and a net add of 223,000 jobs, 218,000 of which were in the private sector. This was ahead of expectations.

Moreover, the nitty gritty details were also good, with hourly earnings rising 0.3% and prior months' data showing upward revisions....


As this site is now reader-supported via Patreon, the remainder of this article is only available to subscribers at a specific patronage level. Articles at patronage levels BRONZE, SILVER, and GOLD are denoted by the categories in blue capital letters above the post. Posts categorized DAILY are available to both SILVER and GOLD patrons.

Click here to join. Your readership is greatly appreciated!

Registered users can log in by entering details here or below.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More