Snippet from Bank of America on what to watch in the NFP and FOMC.
- forecast a 25bp rate cut from the Federal Open Market Committee (FOMC) next week
- says October jobs report will be noisy, BoA expects nonfarm payrolls to rise by 100,000, which would be a 'solid print'
- “Even if there is an upside surprise, we do not think the Fed will have enough conviction keep rates unchanged, especially with the policy rate still close to 5%”
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Federal Open Market Committee (FOMC) statement due on November 7.
