US Macro Weekly

A robust September jobs report (+254k) and the quick resolution of the port strike have reduced recession risks, supporting a 25bp Fed rate cut in November. While inflation remains choppy, the resilient economy allows for a slower pace of monetary easing.

Key Takeaways

• 1.The September jobs report was significantly stronger than expected, with Nonfarm Payrolls rising by 254k and the unemployment rate falling to 4.1%.
• 2.Strong labor data provides pushback against another jumbo 50bp rate cut, supporting a transition to 25bp cuts by the Fed.
• 3.The US East and Gulf Coast dockworkers' strike was resolved quickly after three days, minimizing potential economic and inflationary impacts.

Table of Contents

• Week ahead
• Week in review
• Key Market Movers
• Highlighted US Publications
• US Economic Outlook
• US Economic Calendar
• Markets
• US Dashboards
• US Inflation Forecast

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