U.S. private sector employment rose by a net 201,000 (seasonally adjusted) last month, according to this morning’s release of the ADP Employment Report. That’s slightly down from February’s 208,000 gain, although the message is clear: job growth rolls on, albeit at modest levels relative to what the economy needs to bring about a large and relatively quick drop in the still-elevated jobless rate.
Daily Archives: March 30, 2011
Treasury Market’s Inflation Forecast: 2.5%
The Treasury market’s inflation forecast has recently risen to the levels that prevailed before Lehman Brothers collapsed in September 2008, which triggered a financial crisis and fears of a deflationary spiral. Using the yield spread between the nominal and inflation-indexed 10-year Treasuries, the market’s outlook has come full circle since the dark days of late-2008.