Daily Archives: Jan 5, 2018 at 10:25 am EST

US Payrolls Growth Unexpectedly Cooled In December

Corporate payrolls in the US increased by less than expected in December, rising 146,000 in 2017’s final month — well below November’s strong 239,000 rise, according to this morning’s monthly employment report from the Labor Department. Economists were looking for a stronger rise: 185,000 via Econoday.com’s consensus forecast. The softer gain kept the year-over-year trend unchanged at a modest pace, which suggests that the labor market in 2018 may face stronger headwinds than previously assumed.
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Treasury Market’s Inflation Forecast Ticks Above Fed’s 2% Target

The Treasury market’s 10-year estimate of future inflation rose above the Federal Reserve’s 2% target this week – the first time that level has been breached for this maturity since last March, based on daily yield-spread data via Treasury.gov. Official inflation numbers, which are published with a lag, continue to reflect pricing pressure that’s modestly below the Fed’s target. The Treasury market, however, is betting that inflation will accelerate this year.
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Macro Briefing: 5 January 2018

N. Korea agrees to hold talks with S. Korea next week: Reuters
Global debt reached a record $233 trillion in 2017’s third quarter: Bloomberg
Winter storm battered the US Northeast on Thursday: Reuters
Trump planning to allow oil drilling in most of US coastal waters: NY Times
US private employment growth accelerated to 250k in Dec: ADP
US jobless claims rose last week but remain historically low: Dow Jones
Global economic output strengthened to 2-1/2 year high in Dec: IHS Markit
SEC to investors: You’re on your own with cryptocurrencies: The Hill
Job cuts at US companies fell in 2017 to lowest level since 1990: CG&C
2017 losses from natural disasters is a record $135 billion for insurers: Munich Re
The bull market is the second-longest on record–when will it end? NY Times
PMI: US services sector growth slowed to 7-month low in Dec: IHS Markit