Fasten your seatbelts people. Analyst Millan Mulraine of TD Securities writes: Even though
the official market consensus forecast for today’s payrolls report has now
fallen slightly below our forecast of 195K to 190K, recent positioning in the
markets (captured by the dramatic rally in Treasures) suggests that the
“whisper number” may be for something far weaker—closer to 150K. In fact, the
forecast revisions in the Bloomberg survey over the past two days have ranged
between 124K and 190K, with a median entry of 175K, well below the consensus
forecast of 200K at the beginning of the week. While some of the move lower in
yields is attributable to the geopolitical concerns on the Korean peninsula,
the last leg down in employment expectations and yields has come following the
unexpected sharp rise in the pace of weekly jobless claims, which showed the
biggest weekly gain since November…..
Read more:
http://www.businessinsider.com/non-fam-payrolls-whisper-number-2013-4#ixzz2PZOwM3pS
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