Financial markets began the New Year with a positive note. While the sovereign debt crisis in the Eurozone remained worrisome, market sentiment was buoyant by improvement in the US. The dataflow in the US contained some pleasant surprises with the most eye-catching one being the employment report for December. The number of non-farm positions increased +200K in December, up from a downwardly revised 100K gain a month ago. The market had anticipated an addition of just +150K in December. The rise in payrolls lowered the jobless rate to 8.5% from 8.7% in November.
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Weekly Fundamentals – Commodities Gained, Strong US Data Upstaged Lingering Eurozone Debt Problems
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