Keep pulling the thread on Bloomberg Surveillance.
Claudia Sahm believes the latest jobs report is not worrisome for the Federal Reserve because wage growth remains moderate and is slowing.
The percentage of companies outperforming the S&P 500 on a rolling 3-month basis is below 23%, a level not seen since 1973, excluding 2023 and 2024.
SpaceX is currently on a roadshow for its IPO.
Following the jobs report, traders are fully pricing in a quarter-point Federal Reserve rate hike by the end of the year.
The European Central Bank is expected to hike interest rates next week.
The Federal Reserve is likely to maintain a hold or hike bias over the next 6 to 12 months.
The U.S. only needs to add 20,000 jobs per month to keep the unemployment rate stable, largely due to retirements.
Government transfers currently account for 20% of all income in the United States.
Small-cap profits are projected to grow 18% to 19% into 2027, exceeding the 14% to 15% growth expected for large-cap profits.
The 10-year Treasury yield is at 4.52%, an increase of 5 basis points.
The 30-year Treasury bond yield is at 5.01%.
The 2-year Treasury yield increased by 6 basis points to 4.1%.