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DE assessment: The Fed did the bare minimum of changes which was disappointing to the bond market which had been looking for something more aggressive. First, it lengthened the forward guidance by six months to read more
Initial claims jump a more-than-expected 15,000 (Consensus and Decision Economics: +5,000) from a prior-week level revised up by 2,000. However, a significant part of the overshoot was attributable to the tropical storm of the week.
August payroll employment rises a less-than-expected 96,000 (Consensus and Decision Economics: +125,000), with the workweek unchanged, as expected.