Deutsche Bank comments on the US nonfarm payrolls employment report which was released on Friday
The comments are couched in terms of impact on volatility:
- a bit of a vol killer … as if it hasn't been killed enough
For the downside, the March result:
- makes February's "look like an outlier"
- "fears of soft growth are assuaged"
For the upside
- the wages data maintains prevailing consensus that wage inflation will not translate into a significant acceleration in inflation
For the USD:
- keeps alive the possibility of an eventual break of 97.71 (ICE dollar index)
ICYMI … the jobs report ICYMI is summarised here: