Jobs data lost on the foggy highway
Without non farm payrolls markets are being tossed back and forth by conflicting alternatives.
NAB Morning Call · NAB - The Morning Call
Audio is streamed directly from the publisher (sphinx.acast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Friday 7th November 2025
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
Normally all eyes would be on the release of the non-farm payrolls data today, but the shutdown has put paid to that. The Fed’s Goolsbee says the lack of data makes it hard to advocate rate cuts; ‘when its foggy, let’s just be a little careful and slow down’. The job is made harder when available data conflicts with each other. Yesterday we were talking about the positive ADP jobs numbers, today NAB’s Taylor Nugent highlights the Challenger jobs survey that reported 153kjob layoffs in October, alongside very low hiring rates. Market sentiment has shifted, with US shares down, the dollar lower, and bond yields falling, with an increased expectation for a December rate cut.
Hosted on Acast. See acast.com/privacy for more information.