Posted To: MBS Commentary
Insanely huge beats or misses in NFP data are always interesting. They seem to have an uncanny ability to completely change the tenor of conversation surrounding Fed policy and economic prospects. Before Friday, labor market strength had been an anchor for many arguments in favor of a 2015 Fed rate hike. After all, even if the Fed didn’t have the inflation it was looking for, at least it had strong jobs gains. First thing’s first when it comes to ONE crazy jobs report having any sort of capacity to change the Fed’s stance: it doesn’t. Time and time again, market participants, analysts, and members of the media will raise questions about a big NFP surprise potentially changing the course for the Fed. Evidence is not on their side. If anything, the Fed has historically reacted…(read more)
Via:: MBS Week Ahead: Global Markets’ Chance to React to NFP; Has Anything Changed for the Fed?
Share this article
