Market Analysis: U.S. Employment Data Revisions Only Tell the Market One Things

"To be honest, I don't think this will really have too much impact on the market or the Fed's policy outlook," said Michael Brown, senior research strategist at Pepperstone, London, Huobi HTX reported. "These data are obviously a big downward correction, which makes you believe that the labor market is stagnant, or at least loses momentum, may be longer than we expected before, but that's all people can see from the data." "The data are quite lagging, so for the Fed's policymakers," he said. There will be no impact, they are still expected to cut interest rates by 25 basis points next Wednesday, and there will be no impact on the market, and swap rates have hardly changed since the data was released. "If this can give us any inspiration, it is that the Bureau of Labor Statistics (BLS) does need to improve its data collection methods as soon as possible, because it has been a large benchmark data cut for two consecutive years. However, Trump clearly has his own ideas—maybe not entirely appropriate—about how they should do it."