Asia Unhedged | US payrolls higher than consensus, bonds slightly improved
A job seeker (R) meets with a prospective employer at a career fair in New York City. Photo: Reuters, Mike Segar
A job seeker (R) meets with a prospective employer at a career fair in New York City. Photo: Reuters, Mike Segar
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US payrolls higher than consensus, bonds slightly improved

At 235,000 the payroll number was much higher than the consensus figure of 200,000, but well under the ADP report of 297,000.

March 10, 2017 9:46 PM (UTC+8)

US payrolls came in at 235,000, considerably higher than the consensus estimate of 200k but well under the ADP report of 297,000. US bonds are slightly improved in a modest relief rally, with the 30-year bond up 5/32nds. Trade-weighted dollar nearly unchanged, with Euro up marginally and JPY down marginally. Hourly earnings, the indicator that the Phillips-Curvers at the Fed watch for signs of inflation, were up 0.2%, lower than the expected 0.3% — another non-warning sign of non-existent inflation. Hours worked were unchanged at 34.4.

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