One Less Reason For A Rate Hike: March NFP Misses Big
The economic numbers and money markets are simply screaming that the risks of tightening monetary policy prematurely has gotten very real and forefront.
Just so happened on Easter Friday, the monthly non-farm payrolls (NFP) report for March came out to be their worst since December 2013.
We aren't biting our lips on this one, the miss was huge. Huge. At almost 50% below consensus, it is hard to overstate the severity of the disappointment
March's jobs figures brought.
More importantly, the latest NFP report bolsters our stance on volatility. Not only has volatility seen a resurgence in the financial markets, it has also reared its ugly head in economics - namely by the unpredictable consistency of actual data releases with respect to analysts' estimates. Recall that the US economy is currently neither in inflation or deflation (February CPI change of 0%) after promptly slipping into the latter in January. On top of that, readers will recall how the final 4Q14 GDP was revised lower to 2.2% by the BEA, missing estimates of 2.4%.
http://www.businessoffinance.com/dai...p-miss-america
The economic numbers and money markets are simply screaming that the risks of tightening monetary policy prematurely has gotten very real and forefront.
Just so happened on Easter Friday, the monthly non-farm payrolls (NFP) report for March came out to be their worst since December 2013.
We aren't biting our lips on this one, the miss was huge. Huge. At almost 50% below consensus, it is hard to overstate the severity of the disappointment
March's jobs figures brought.
More importantly, the latest NFP report bolsters our stance on volatility. Not only has volatility seen a resurgence in the financial markets, it has also reared its ugly head in economics - namely by the unpredictable consistency of actual data releases with respect to analysts' estimates. Recall that the US economy is currently neither in inflation or deflation (February CPI change of 0%) after promptly slipping into the latter in January. On top of that, readers will recall how the final 4Q14 GDP was revised lower to 2.2% by the BEA, missing estimates of 2.4%.
http://www.businessoffinance.com/dai...p-miss-america