Deutsche Bank

The Key Things To Look For In Today's FOMC Minutes

While inflation will likely be a heavily debated topic, given recent Fedspeak it appears that most voting members are looking through some of the recent weakness and prefer to continue the "gradual" removal of monetary accommodation, in line with speculation that the Fed is no longer data dependent and may have lowered its inflation target outright.

Frontrunning: October 10

  • Thousands Flee as Deadly Fires Ravage California Wine Country (WSJ)
  • Trump Allies Fear Corker Feud Threatens Tax Plan (BBG)
  • Catalans Face Day of Reckoning (BBG)
  • Puerto Rico’s $74 Billion Burden Left It Helpless When Maria Hit (BBG)
  • Brain Drain Index: The Smartest Americans Are Heading West (BBG)

Frontrunning: October 9

  • Thaler, Famed for ‘Nudge’ Theory, Wins Nobel Prize in Economics  (BBG)
  • Republicans Worry About Keeping Trump’s Middle-Class Tax Promise (BBG)
  • Catalan leader under pressure to drop independence (Reuters)
  • Spain Warns Catalonia Independence Bid Risks Economic Meltdown (BBG)
  • U.S. Asks Allies to Cut Off North Korea (WSJ)

Dollar Surge Continues Ahead Of Jobs Report; Europe Dips As Catalan Fears Return

World stocks eased back from record highs and fell for the first time in eight days, as jitters about Catalonia’s independence push returned while bets on higher U.S. interest rates sent the dollar to its highest since mid August; S&P 500 futures were modestly in the red ahead of hurricane-distorted nonfarm payrolls data

Previewing The September "Hurricane-Disrupted" Jobs Report

Tomorrow's hurricane-affected September jobs report will be... confusing. That is the (lack of) consensus from Wall Street analysts, who expect an average print of 80,000 (down from the 3-month average of 185K), however with huge variance on either side, with 4 economists predicting a loss of jobs, three expecting a print higher than 150K and one optimistic forecaster going as high as 260,000.