Something's Not Working in November Jobs Report
At least a portion of last month's high job growth may be due to overly aggressive seasonal factors.
It wasn't a great week for world markets with most emerging markets down more than 1%, European equities about flat, and the S&P 500 up about 0.4%. Oil prices are still weighing heavily on commodity indexes, which were also down over 1% for the week. U.S. 10-year Treasury rates were modestly higher at 2.3%.
The end of the week was decidedly better than the first part, with a strong U.S. employment report wiping out some of the bigger weekly losses in equities and commodities. The U.S. is again assuming its position as an engine of world economic growth.