Chillin' out till it needs to be funded
Happy Holi to everyone from India. And back on th eJobs numbr, Claims were marginally higher at 362k, 4 week average at 355k, ADP Payrolls were on the whole very positive the large number raising expectations for the best ever score on unemployment tomorrow morning as jobless claims did not look so ugly and Government payrolls likely haven’t
been too bad after all the slicing and dicing last year.
Challenger confirms, transportation did report layoffs in the 51.7k ofdd jobs lost. Of course the “Job cuts report” is devoid of any statistical correlation to its constituents including all reductions in payroll, temp, permanent, one year contracts or anything else.
The better numbers in the UK with the worst coming on the Services and PMI at 54a tick down but yet positive, meant BoE is staying off the QE potion for now.
Mario Dragho on the other hand did update his inflation expectations number to a 2.1-2.7% range bu t withthe LTRO rounds having barely begun, stayed away from changing the Economic mix, hoping for a repeat of the LTRO rounds in November
ECB’s growth forecast minimums have adjusted dowqn to -0.5% for 2012 and 0.0% for 2013, a balanced budget achievement a big one for Europe aas a whole in the new Fiscal Compact.