Taper Talk Terminated?

66
Fri, Oct 8, 2021 - 10:43am

Many are quick to assume that The Fed's QE taper plans are now on hold given the second consecutive dismal and lousy BLSBS report. I'm not so sure about that so let's dive in and discuss all of this today.

If you haven't seen any of the details of the report yet, I'll post the ZH summary below as they always do the best job of cutting through the clutter and nonsense. The key's here are three things:

  • a negative 89,000 seasonal adjustment
  • public sector employment drop (due to jab mandates?)
  • another sharp rise in average hourly earnings
  • ...

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Key Economic Events Week of 10/18

10/18 9:15 ET Cap Ute and Ind Prod
10/19 8:30 ET Housing Starts
10/19 3:00 ET Goon Waller
10/20 1:00 ET Goon Quarles
10/20 2:00 ET Fed Beige Book
10/21 8:30 ET Philly Fed
10/21 10:00 ET LEIII
10/22 9:45 ET October Flash PMIs

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