Strong October jobs data and Fed hike expectations
Payrolls beat estimates by a wide margin and unemployment fell to 4.1%. One post expects another Fed hike in December, while Daly describes a stable but not booming labor market.
What we know
Charlie Bilello notes +165k jobs versus 60k expected, unemployment at 4.1%, and prior-month revisions of +84k. Mary Daly calls the market stable and solid but not booming, and says Americans are on an inflation treadmill. The Fed hike call comes from the Bilello post.
How the story developed
Payrolls beat estimates by a wide margin and unemployment fell to 4.1%. One post expects another Fed hike in December, while Daly describes a stable but not booming labor market.
October payrolls rose 165K against estimates of about 65-70K, unemployment fell to 4.1%, the 10-year yield rose to about 4.89%, and Coinbase Predict now prices a 77% chance of a December hike.
Payrolls rose 165K versus ~59-70K expected, unemployment fell to 4.1%, and December hike odds jumped to ~79-80%. The 10-year yield rose to ~4.90%.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.