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, 6 tweets, 2 min read
BREAKING: U.S. adds 128,000 jobs in October, well surpassing expectations of 85,000 bloom.bg/2qfmm7j
MORE: Today's beat also comes despite a 41,600 decline in auto payrolls because of the GM strike and 20,000 temporary census workers leaving their jobs bloom.bg/2qfmm7j
MORE:
⬆️ Revisions added 95,000 jobs for the prior 2 months
⬆️ Jobless rate rises slightly to 3.6%
⬆️ Average hourly earnings climb 3% from year earlier

bloom.bg/2qfmm7j
Where Jobs Added/Lost:

🏭 Manufacturers lose 36k—biggest drop since '09
🛍 Retail jobs rise—first back-to-back gains year+
🏨Leisure/hospitality, 🍎education, 🥼health services, and 💼professional & business services all rose

Participation ⬆️ to 63.3% bloom.bg/2qfmm7j
Futures traders decrease the amount of easing they expect from the Fed after the jobs report shows hiring was unexpectedly resilient bloomberg.com/news/articles/…
New jobs numbers are out. See who is hiring... and who's not bloomberg.com/graphics/jobs-…
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More from @economics see all

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Bloomberg Economics
@economics
THREAD 1/ What happened in the world economy this week – in charts (via @DoubleTGolle & @zschneeweiss) bloom.bg/2o4lJN2
2/ Germany’s manufacturing meltdown is pulling Europe’s largest economy closer to a recession bloom.bg/2o4lJN2
3/ New-home sales in the U.S. rebounded at a faster pace than forecast in August, thanks to mortgage rates that are hovering just above the lowest level in nearly 3 years bloom.bg/2o4lJN2
Read 7 tweets
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Bloomberg Economics
@economics
THREAD: It’s been a decade since Fed traders jumped into U.S. money markets to inject cash and keep short-term interest rates (repo rate) from rising.

Confused? It's ok. Even traders were left scratching their heads.

Here’s exactly where things stand➡️bloom.bg/2lXlCSt
Before we start:

➡️Repo rate = Cost to borrow short-term cash (often overnight) in money markets, which is secured by collateral

➡️Money markets = Where traders can lend & borrow cash for short amounts of time. That’s different from the capital markets (bonds and stock markets)
On Tuesday, the NY Fed injected $53 billion into the money markets to push the repo rate down. Rates had spiked as high as 10%.

On Wednesday, after that repo rate started to move up again, the NY Fed injected $75 billion to the money markets bloom.bg/2lXXU8v
Read 10 tweets
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Bloomberg Economics
@economics
A former top Fed official suggested the central bank reject interest-rate cuts that would help Donald Trump’s 2020 reelection prospects. The comments drew swift criticism bloom.bg/2zqzXtW
Critics said former NY Fed President Bill Dudley's comments for @bopinion could jeopardize independence of the Federal Reserve — which is already under fierce attack from Donald Trump bloom.bg/2zqzXtW
@bopinion Dudley argued the Fed risks enabling further trade war escalation by Trump and it should say explicitly that officials “won’t bail out an administration that keeps making bad choices on trade policy.”

Read his column for @bopinion ➡️ bloom.bg/2Nw8kIl
Read 3 tweets

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Heshmat Alavi
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Heshmat Alavi
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Christophe Barraud🛢
@C_Barraud
🇺🇸 🇨🇳 *U.S. WAITING TO HEAR FROM #CHINA ON TRADE DEAL, KUDLOW SAYS - BBG
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Christophe Barraud🛢
@C_Barraud
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