Nonfarm Payroll Report - August 2010Translation: This nonfarm payroll report was treated as a significant event by the Treasury market. Certainly Bernanke made it clear that the Fed will act to increase QE if needed, but it will not act imprudently or before it is quite clear that deflation and a double dip are in the cards. If today’s data is followed by stable data leading up to the FOMC meeting on September 21st, a second round of QE will not be necessary at this time. (Click on PDF icon to read complete article)
Past Articles: • Downward Revision to Q2 GDP • Existing Home Sales & Richmond Fed • Initial Jobless Claims • July Housing Starts, PPI, and Capacity Utilization • July CPI and Retail Sales • Weekly Jobless Claims Disappoint • No Exit - Note on the FOMC Statement • Nonfarm Payroll: A Bifurcation of Employment Rates • Retail Sales and Mortgage Data • Nonfarm Payroll: June Proves Slow and Steady • Case-Shiller Recap
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