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Payroll

Payroll shew higher (257K) then predicted (234K). Hope everyone Took proffit!)
Hve fun on HOLLIDAYS))!!
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Fed Bullard: Small taper would still leave very stimulative policy

  • Expectations of tapering will rise as labour market continues to show cumulative improvement
  • Fed wants to be assured that any progress in labour market will be lasting
  • Unemployment and and payrolls have clearly improved but other labour data has not
  • FOMC decisions are dependant on data
  • Forward guidance and asset buying separate tools but market sees them closely linked creating challenges for Fed
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