US NFP registered strong numbers, Snapshot below:
|
|
NFP▲ |
UR (in %) |
AHE mom |
AHE yoy |
|
01-Nov-23 |
173,000 |
3.7 |
0.35% |
3.96% |
|
Exp |
1,70,000 |
3.8 |
0.29% |
3.90% |
|
05-Jan-24 |
2,16,000 |
3.7 |
0.40% |
4.10% |
The three month average now stands at 164,667 compared to prior 3 month average of 221,000. The change in total nonfarm payroll employment for October
was revised down by 45,000, from +150,000 to +105,000, and the change for November was
revised down by 26,000, from +199,000 to +173,000.
USTs were offered post the release yields on US2s reaching a high of 4.494% and US10s at 4.101%.
Markets are now pricing in 130 bps of rate cuts into 2024.
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