Friday, December 03, 2010

Change in Nonfarm Payrolls: Survey 150k Actual 39 Prior 151 Revised 172
Change in Private Payrolls: Survey 160k Actual 50 Prior 159 Revised 160
Unemployment Rate: Survey 9.6% Actual 9.8% Prior 9.6%

Private Payrolls - Estimates vs Actual

Avg Estimate from UBS, JPM & Consensus Actual

180
160
140 168
120
100
80
60
40
50
20
0
August September October November

At the risk of stating the obvious, this is not a very good report.

In China, the market ended flattish after the PBOC announced right before the close that it was
shifting from a “moderately loose stance” to a “prudent” one. At the same time, China’s Politburo
elected to maintain China’s proactive fiscal policy and advisors such a Daokui were on the tape saying
that China wouldn't "slam on the brakes" overnight but will only gradually increase rates. – JPM
S&P last night after the US close placed Greece on watch negative
Bernanke will be appearing on “60 Minutes” this coming Sunday 12/5).
The President’s bi-partisan commission on the deficit picked up unexpected support from three
senators on the panel. It will still fall short of the 14 of 18 votes promised at the start, but the
commission chairman said it will be pitched to Congress nonetheless. – FTN Financial