Back and a little confused
Markets have taken Friday’s payrolls numbers at face value says NAB’s Ray Attrill, yet there’s evidence the real story is a much weaker labour market.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 11th April 2023
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It’s the start of a what could be a volatile short week. NAB’s Ray Attrill says it seems markets have taken the non-farm payrolls at face value, seeing no dramatic fall in jobs as a sign that the Fed will stick with its hawkish tilt. But the weekly jobless claims have been revised upwards and there’s other evidence that job layoffs are increasing. As markets adjust to the jobs news, there’s also the anticipation of this week’s US inflation read, and a few major bank earnings results this week too.
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