Today’s weaker-than-expected U.S. unemployment provided strong support for this week’s theme that the Fed’s rate-hike regime is likely over.
Oct U.S. payrolls rose by +150,000, weaker than expectations of +180,000, and Sep payrolls were revised lower to +297,000 from +336,000. Also, the Oct U.S. unemployment rate rose by +0.1 points to a 1-3/4 year high of 3.9%, which showed a slightly weaker labor market than expectations for an unchanged rate of 3.8%.
