United States

Strong October jobs report sets tone for week ahead

WEEKLY MARKET COMMENTARY  | 

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Last Friday’s very strong October jobs report will likely set the tone for the next few weeks as investors move to price in a December rate increase from the Federal Reserve. Otherwise, this time of year is traditionally about corporate and financial window dressing to close out the year.

After the recent positive economic data, the yield on the U.S. 10-year Treasury over the past two weeks has moved to 2.36 percent from 2.05 percent, a reflection of the underlying strength of the U.S. economy. This week will see a light flow of data on the docket with new information on wholesale pricing, producer prices, regional manufacturing, retail sales and consumer sentiment.

Nine different Fed speakers will present their outlook to investors this week, with Chair Janet Yellen and Vice Chair Stanley Fischer both speaking at the Fed’s conference on “Monetary Policy Implementation and Transmission in the Post-Crisis Period.”

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