Mindblown: a blog about philosophy.
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Goldman Sachs hikes BoE terminal rate to 6% from 5.75%, now expects a 25bps hike in November
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US Non-Farm Payrolls* (Jun) 209k vs. Exp. 225.0k (Prev. 339.0k, Rev. 306k)
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MORNING MINUTE JULY 7th
AFTER A MUCH STRONGER ADP JOBS REPORT YESTERDAY, LOOKING FOR MORE OF THE SAME FROM TODAYS NFP NUMBER, WHICH WOULD CERTAINLY PRODUCE A FURTHER HAWKISH TONE FROM THE FED
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US JOLTS Job Openings (May) 9.824M vs. Exp. 9.935M (Prev. 10.103M)
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US ISM N-Mfg PMI (Jun) 53.9 vs. Exp. 51.0 (Prev. 50.3)
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In the wake of the strong ADP and Challenger job layoffs, bonds have slumped to even deeper lows, short term rates spike higher and S&P futures are indicating a weak open (-0.90%)
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Fed’s Logan (voter, hawk) says would have been okay with a June hike, more hikes will likely be necessary
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US Challenger Layoffs (Jun) 40.709k (Prev. 80.089k) – seven month low
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US ADP National Employment* (Jun) 497.0k vs. Exp. 228.0k (Prev. 278.0k, Rev. 267.0k)
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END OF DAY REPORT JULY 5th
SUMMER’S HERE AND THE TIME IS RIGHT FOR DANCING IN THE STREET!! ALTHOUGH STOCKS WERE SLIGHTLY LOWER ON THE DAY BUT OVERALL, THE TREND IS STILL YOUR FRIEND
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