October 7, 2021 Headlines

Risk markets have traded better ever since reports surfaced yesterday afternoon that Republicans had offered a deal to Democrat leaders that would temporarily lift the debt ceiling. European stocks have been further boosted by declining energy prices. Senate Minority Leader Mitch McConnell said he will not block a debt ceiling extension into December as long as the extension includes a dollar limit, the latter of which is said to be a point of contention for Democrats. Initial jobless claims fell more than expected last week to 326,000, just above the current cycle low of 312,000 reached a month earlier. Cleveland Fed President Loretta Mester will participate on an inflation dynamics panel with ECB executive board member Philip Lane later this morning.

Jason Haley
Chief Investment Officer

10/7/2021Challenger Job Cuts YoY-84.90%-86.40%
10/7/2021Initial Jobless Claims348k326k362k364k
10/7/2021Continuing Claims2766k2714k2802k2811k
10/7/2021Langer Consumer Comfort54.7
10/7/2021Consumer Credit$17.500b$17.004b
10/8/2021Change in Nonfarm Payrolls500k235k
10/8/2021Two-Month Payroll Net Revision
10/8/2021Change in Private Payrolls450k243k
10/8/2021Change in Manufact. Payrolls25k37k
10/8/2021Unemployment Rate5.10%5.20%
10/8/2021Average Hourly Earnings MoM0.40%0.60%
10/8/2021Average Hourly Earnings YoY4.60%4.30%
10/8/2021Average Weekly Hours All Employees34.734.7
10/8/2021Labor Force Participation Rate61.80%61.70%
10/8/2021Underemployment Rate8.80%
10/8/2021Wholesale Inventories MoM1.20%1.20%
10/8/2021Wholesale Trade Sales MoM0.90%2.00%



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