Market Comment | Worsening macroeconomic data hit the financial markets this week

Negative surprise in non-farm payrolls. In the US, non-farm payrolls slowed in April, increasing by less than expected (by 160K; consensus: 200K; previous: 208K). However, manufacturing payrolls rose unexpectedly (by 4K; consensus: -5K). As a result, the unemployment rate remained unchanged at 5.0%, whereas the forecast had been for a slight decrease (to 4.9%); meanwhile […]

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