Labour markets cooling or cracking?
mai 7, 2024 | NS Partners
Soft US employment report. Payrolls undershot and the U-6 underutilisation rate rose to its highest since November 2021, satisfying the Sahm condition (see charts). Suggested US money growth reversal on track. The Treasury confirmed a reduction in bill financing, implying a switch in the Treasury / Fed combined impact on money growth from positive to […]