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The long and the short of US jobs data
The markets are eagerly awaiting the latest big jobs report from the USA on Friday, the non farm payrolls. Will they give more clues as to when the Fed might start tapering its bond purchase programme? If they're spectacular, the markets might interpret that as a sign that QE will end sooner rather than later. And that could have a negative impact on equities.
But Saxo Bank's Head of Equity Strategy, Peter Garnry, says even though the figures may move the markets on the day, equities will be the clear winner in the long run. If the jobs numbers are good, that will eventually spill into consumer spending and earnings figures which will help companies.
Standard Chartered Bank is predicting the unemployment rate will decrease slightly when the Non Farms are released on Friday. But the figure has to fall to well below 6% before we see a marked ending of the stimulus programme.
01:21 minutes
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