Friday, March 10, 2017

"It Can Only Disappoint" - What Wall Street Expects From Today's Jobs Report

Zero Hedge by Tyler Durden -- 

Following Wednesday's blowout ADP report, which printed some 40K jobs higher than the highest estimate, the only possibility for Friday's nonfarm payroll report, the last major economic data point before the Fed's March 15th rate hike announcement, is to disappoint, especially in terms of wages (which in light of the recent downward revision of Q1 GDP by the Atlanta Fed to 1.2% is not out of the question). That possibility, however, is slim to none if one looks at Wall Street's forecasts, where virtually every sellside analyst boosted their NFP estimate in the hours after the ADP number. Still, with the market pricing in a 100% chance of a rate hike, only a very disappointing - think less than 100K - report will derail the Fed from hiking for the second time in three meetings.
Here are some of the more notable forecasts for tomorrow's number::
  • Westpac 170K
  • Bank of America 185K
  • BNP 185K
  • Barclays 200K
  • Deutsche Bank 200K
  • Goldman Sachs 215K
  • Nomura 235K
  • Morgan Stanley 250K
Putting it all together, here is what Wall Street expects from the February payrolls report due out at 8:30am ET tomorrow morning:

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