Daily Points

Scotiabank reports a mild risk-on market environment while highlighting that recent US jobs data is significantly distorted by delayed population count revisions. UK macro data disappointed expectations, and the Bank of Canada's Rogers is scheduled for a fireside chat on AI and productivity.

Key Takeaways

• 1.The US Bureau of Labor Statistics (BLS) delayed revising population counts in the household survey, likely leading to a record downward revision in next month's report.
• 2.Global markets show mild risk-on sentiment as equities rise despite soft UK macro data and skepticism over US jobs strength.
• 3.UK economic indicators, including Q4 GDP and industrial output, generally disappointed expectations but were largely ignored by the market.

Table of Contents

• On Deck for Thursday, February 12th
• KEY POINTS
• UK MACRO UPDATES WERE IGNORED
• US — MINOR MACRO REPORTS, PERFORMATIVE STUNTS
• BOC ON AI
• WHY A RECORD DOWNWARD REVISION TO THE US HOUSEHOLD SURVEY IS COMING

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