Breaking news: Non-agricultural payrolls at 130K (vs 70K exp) – A strong beat

[Ben Graham]

Markets just received the report for the much-anticipated Non-Farm Payroll, which came at a strong beat vs expectations– The month-over-month release came at 130K vs 70k estimates.

Odds for a cut in the March meeting were at 20% and are currently staying put, slowly reducing. The issue for the Trump Administration however is that odds for cuts later are falling: the June meeting was priced close to 100% and is now closer to 75%.

This will surely leave some anxiety in Markets with traders still awaiting for Friday's CPI report before taking decisive positioning – For now, this leaves a Hawkish tilt.

Equity futures are staying unchanged (for now), the US Dollar is rising, while Metals and Treasuries are dipping lower.

Bureau of Labor Statistics statement: "Total nonfarm payroll employment rose by 130,000 in January, and the unemployment rate changed little at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, social assistance, and construction, while federal government and financial activities lost jobs."

Get access to the full report right here.

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