European Morning Briefing: Markets to Absorb Catalonia Deadlock
Stocks to gain; EUR/USD 1.1701-04; bund yield 0.458%; Brent crude $56.93; gold $1269.11
-IMF, World Bank Leaders: Now Is the Time to Prepare for a Future Downturn
-Big Catalan Bank to Relocate From Region Amid Separatist Drive
-Fed's George: Delaying Rate Rises Poses Risks to Growth, Financial Stability
Watch For: Germany manufacturing orders; France balance of payments; Italy retail sales; U.S. employment report; speeches by several Fed officials
The U.S. government's non-farm payrolls report for September is due Friday and economists are expecting a big drop in growth from the recent trend -- most of that decline due to hurricanes Harvey and Irma.
Economists expect just 80,000 new jobs down from 156,000 in August. However, they expect average hourly earnings to bump back up to 0.3% from just 0.1% last month. The consensus is that the unemployment rate will stay the same at 4.4%.
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Global policy makers are becoming complacent during a moment of calm, doing too little to prepare their economies for a future downturn, the leaders of the International Monetary Fund and World Bank said Thursday.