News

BlockBeats News, March 6th, Christopher Hodge of Natixis said that the latest non-farm payrolls report might be particularly influential for Fed Governor Waller. Recall earlier today when he suggested that if the February data looks soft and the January data is revised down, then questions will be raised about why the Fed is standing pat and not cutting rates... This would reinforce the dovish view at the Fed, that the recent encouraging labor data is just "Fool's Gold," referring to deceptive economic data. (FXStreet)

U.S. Treasury bonds rose due to a disappointing employment report, boosting market expectations for a Federal Reserve rate cut this year. The 10-year Treasury yield fell by 3 basis points to 4.1%, while the 2-year Treasury yield dropped by 5 basis points to 3.53%. Interest rate swap data shows that traders are betting on a cumulative 44 basis point rate cut by the Federal Reserve by December, compared to the 35 basis points expected before the report was released.

According to Golden Ten Data on March 6, the U.S. Bureau of Labor Statistics' press release did not provide detailed information on the extent of the weather's impact. However, looking at industries that are easily affected by severe cold conditions, such as construction (which decreased by 11,000 people) and transportation and warehousing (which also decreased by 11,000 people), at least part of these declines may be related to the weather.