Following this morning’s “surprising” miss to the August US job’s report (169K vs. estimated 180K) and the large downward revision to July’s previously reported number (to 104 from previously estimated 162K), algos started the day ramping up risk markets in the hopes that weak job growth means no Fed taper in September. But whether they do or don’t, whether it is September or December, the fact is even with 85 billion of bond buying a month, growth is slowing not accelerating in the second half.
For those interested in realistic assessments of the real economy, Roubini offers useful big picture in this longer than usual clip.
New York University economics professor Nouriel Roubini comments on the state of the U.S. economy from Cernobbio, ItalyHere is a direct video link.
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