This Week
At the moment was speculated to be the large day for markets this week. We had the December jobs report and there was hypothesis the Supreme Courtroom might make its determination on the IEEPA tariffs (it didn’t).
The roles report was not good, however not dangerous. On the plus aspect, the unemployment fee fell again to 4.4% from 4.5%. And whereas the economic system added greater than 50,000 jobs in December, that was beneath expectations for +70k. To prime it off, the earlier two months had been revised down by a mixed 76,000 jobs.
Nonetheless, that was adequate to push down odds of a Fed fee minimize later this month to 5% from over 10%.
So, for the week, the Nasdaq-100® ended the week up +2% (blue line), whereas 10-year Treasury yields had been down a number of bp to 4.15% (black line).
Subsequent Week
Listed here are the highest occasions I’m watching subsequent week:
- Supreme Courtroom rulings on Wednesday
- December CPI on Tuesday
- December retail gross sales on Wednesday
- December industrial manufacturing on Friday
