Non-Farm Payrolls come in at 216k vs. consensus of 190k. Rumors are running rampant that Bernanke shared the numbers with Regional Fed Pres. Kocherloakota, which he presumably leaked and thus his hawkish statements yesterday about the Fed Funds Rate at 75 basis points in 2011.
Not that this is going anywhere, but only the fed chairman is supposed to see the numbers the night before. While pre-market is up right now, this is presumably not good news for the market and any hope of QE3, which would put an end to the speculative equity/commodity bubble. We'll see how it plays out. The report was not all good news as several sectors are lacking, manufacturing for example came in below expectations. Also the work force participation rate is the lowest in 25 years at 64.2%.
5 years ago
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