Weak Nonfarm Payrolls Reduce Hike Pricing | Crypto Craft

  • Weak Nonfarm Payrolls Reduce Hike Pricing

    From scotiabank.com

    The US job market stumbled in June and wasn’t quite as solid as previously believed over the prior two months. The result drove down shorter-term US Treasury yields and reduced OIS contract pricing for hikes with the September contract now down 10bps from the full hike pricing back on September 22nd. Payrolls increased by 57k in June which was close to my below-consensus 90k call and vastly weaker than some of the outliers to the high side. Details were weak. Breadth of hiring activity was poor (chart 1). The goods sector added just 10k, while services added just 39k. Within goods, only construction was up in an ... (full story)

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