Yellen must have a fucking hard on after reading these numbers.
October Nonfarm Payrolls 271K vs 181K consensus; Prior revised to 137K from 142K
October Hourly Earnings +0.4% vs +0.2% Briefing.com consensus; Prior 0.0%
The unemployment rate is at 5%.
These are the best numbers of 2015, which is sure to cause investors to believe the Fed will hike rates in December. The dollar is spiking hard, up 1.25% v the euro. Futures aren’t really moving too much, which is suspect as fuck.
UPDATE: The market is pricing in a 74% chance of a Dec rate hike.
The first move is usually wrong and stocks tanked immediately following the number, they came back to touch unch and faded again. Now a full 10 mins after the number they are still lower, but just. After the move down I would have thought a spike into the face of the bears that might get faded throughout the day or built up, but a reversal and spike into the open nonetheless. Doesn’t seem to be happening. Suspect indeed.
Another question: Now that the Fed is effectively easing for Europe by crushing their silly monopoly money, does Draghi need to do anything at their Dec meeting? Doesn’t look like it from here.
If they don’t raise in December they never will.
Even so 1/4 point is nothing.
Oy, I capitulate. December it is.
Where’s the new King of Bondage Land !
I did not get a raise in October.