by Chris Becker
Friday night saw the most waited release of the economic calendar – the NFP, or non-farm payroll – US monthly unemployment, which sets the tone and risk meters across markets around the globe.
The actual print was very solid. More than a quarter million new jobs created in December, above forecasts of 240K and a big drop in the headline unemployment rate from 5.8% to 5.6%. Unfortunately its a case of good news for macro is bad news for risk as this translates into less of a chance the Fed will hold rates in 2015.