Last month we said that the "JOLTS data better turn negative fast or else Powell will be facing very unpleasant questions why the Fed's rate hikes are on pause when the number of job openings is soaring." Today we got just the expected negative data reversal.
Obamacare’s proponents promised that the law would reduce costs, expand access, and allow us to keep our doctors if we liked our doctors. The reality has been quite different...
Expectations that the February cold weather"outlier" print would normalize in March were confirmed, as the US added 196K payrolls in March, higher than the 177K expected, although the big surprise was the far weaker than expected wage print.
Nonfarm payrolls are expected to revert to a more trend-like pace in March, following the sub-par Feb data. The jobless rate is seen remaining at 3.8%. Wage growth is seen moderating a touch, though would still be consistent with the recent pick-up.
There's at least one company that does not buy into the overly optimistic market forecast from JPMorgan's head quant Marko Kolanovic, who expects the S&P to keep rising until 3,000 and sees several more months of consistent buying. JPMorgan itself.
