Calling NFP in current conditions is tough and it could be anywhere within 20000 jobs of consensus which is at 18000. However, the big problem is that any of those numbers will not be enough to bring a smile on the face of investors. After April’s 217000 jobs everything was downhill and proof that QE2 was just a good idea on paper.

Bottom line, today’s number it is irrelavant in current environment unless it is a really big surprise.  But a really big one which I am afraid will not be.

I am not going to say it yet but cash looks better and better.



2 thoughts on “NFP

  1. Is 117,000 a figure encouraging enough to ease concerns about US economic slowdown? 🙂 I think it’s not bad, but too little in the complex current picture. That makes two pessimists.

    Felicitari pentru blog si succes!

    1. To be honest it is up there with the big surprise. However, is just a drop in a sea of bad news. Let’s watch the news for the mext few weeks and maybe things will turn around.

      Multumesc de urari.

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