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Weak Jobs Data Favors Another Fed Rate Cut In December… Maybe
The government shutdown has ended and new government data will soon start to roll out ahead of the next Federal Reserve policy announcement on Dec. 10. The modest uptick in inflation lately will keep markets guessing, but several estimates of payrolls from private sources in recent days suggest that the case for more easing still has the edge. Numbers published by ADP and Revelio Labs reflect an ongoing slowdown in hiring in October. A downtrend in nonfarm payrolls is also conspicuous in another estimate through last month by LinkUp. A rise in job cuts in October is another factor pointing to a bias for a rate cut ... (full story)
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