US Economy

The all important US jobs report was out Friday night and at first blush was soft given market consensus was for 200k plus (all chart from Calculated Risk): Total nonfarm payroll employment increased by 160,000 in April, and the unemployment rate was unchanged at 5.0 percent, the U.S.

The FOMC met and offered a little more hawkish tone than I was expecting: Information received since the Federal Open Market Committee met in March indicates that labor market conditions have improved further even as growth in economic activity appears to have slowed.

The Mining GFC has faded sufficiently that traders can again imagine the Federal Reserve raising interest rates.

From Westpac: In recent months, core CPI inflation has shown renewed strength.

From Calculated Risk: The Cleveland Fed released the median CPI and the trimmed-mean CPI this morning: According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.2% (2.0% annualized rate) in March. The 16% trimmed-mean Consumer Price Index rose 0.1% (1.5% annualized rate) during the month.

From FOMC minutes released last night: Participants generally agreed that the incoming information indicated that the U.S.

Its that time of month – don’t laugh – but the NFP print has rolled around as the latest witching (end of month, end of quarter) rolls by, this major event sets the course for risk markets until the next month.

by Chris Becker First of all, the importance of the US presidential election to the Australian economy is obviously high and relevant to future macro conditions, in terms of fiscal and monetary policy settings.

By Leith van Onselen Five-and-a-half years ago I wrote a post on the Miami housing bust, which had seen prices crash on the back of an epic oversupply of apartments.

From Macquarie:  The latest FOMC meeting turned more dovish, as Fed officials now expect 2 rate hikes by end-2016, compared with 4 last Dec.

The FOMC decision is out and tilted dovish on its hawkish path, evidently spooked by the market reaction to itself.

From the BBC: The race for the Republican presidential nomination continues after Donald Trump won a decisive victory in the key state of Florida but lost to John Kasich in Ohio.

From Mr Weston: Hello ‘Yellen call’.

From the FT: Donald Trump, the frontrunner in the Republican race for the White House, won Mississippi, Michigan and Hawaii on Tuesday night, propelling him closer to victory as the presidential contenders look ahead to the big March 15 contests in Florida and Ohio.

Well there you go.

Courtesy of Elliot Clarke at Westpac: The ISM manufacturing and non-manufacturing surveys have long been benchmarks for economic momentum in the US.

From the FT: Several dozen Republican foreign policy experts have accused Donald Trump of being “fundamentally dishonest” and “unfit” to be president, as the property developer closes in on the party’s nomination.

Courtesy of the FT: Donald Trump has opened a 49 per cent to 16 per cent lead over Marco Rubio in the latest presidential opinion poll, sparking panic among establishment Republicans over his likely coronation as the party’s nominee.