Real-time News

March 6th - A weak jobs report is having a ripple effect on U.S. credit metrics. As Caleb Mutua reported, after employers unexpectedly cut jobs in February and the unemployment rate rose, a measure of U.S. credit risk perception hit its worst level in months on Friday, exacerbating early trading volatility. The spread on the Markit CDX North American Investment Grade Index widened as credit risk rose, gaining as much as 2.6 basis points to 58.55 basis points, its highest intraday level since May 23rd of last year.

White House National Economic Council Director Hassett: The private sector will agree on the specific methods for refunds.

White House National Economic Council Director Hassett: (Regarding tariff rebates) He expressed concern about lawsuits filed by large corporations regarding this matter.

According to Iranian state television, Iran launched missiles at a US military base in Kuwait.

On March 6th, Brian Jacobsen, chief economist at Annex Wealth Management, stated that the non-farm payroll data was disappointing and deviated significantly from expectations. The report's data cannot be embellished; the rising unemployment rate, coupled with a sharp increase in oil prices, will raise concerns among traders about the risk of stagflation. The Federal Reserve will face a dilemma: should it take measures to help the job market, or maintain the status quo (or even threaten to raise interest rates) to curb inflation expectations?

White House National Economic Council Director Hassett: (Regarding Iran) There is some turmoil at the moment, but the energy market is expected to stabilize with the addition of Venezuela.

White House National Economic Council Director Hassett: Economic growth is projected at 4% this year.

According to Iranian state television, Iran launched missile attacks on Kurdish armed opposition groups in Iraq's Kurdistan region.

White House National Economic Council Director Hassett: We are witnessing a significant increase in productivity.

A spokesperson for European Council President Costa stated that the meeting will provide an opportunity to discuss further EU support and how to end the current conflict.

European Commission President Ursula von der Leyen and European Council President Diego Costa will hold a video conference with Middle Eastern leaders next Monday.

Brazilian Association of Automobile Manufacturers: In February, Brazilian car sales increased by 8.6% compared to January, while production increased by 24.9% compared to January.

According to Iranian television: Iran claims it has attacked another Kurdish base in Iraq.

Federal Reserve's Daly: We have not yet seen evidence of an overheated economy.

Federal Reserve's Daly: We must remain stable while collecting more data.

March 6th - Natixis' Christopher Hodge stated that this report could particularly influence Federal Reserve Governor Waller. Recall that earlier today, he said that if February's data looks weak and January's data is revised downwards, then the question of why the Fed is holding back interest rates will be raised... This would reinforce the Fed's dovish view that recent encouraging labor market data is merely "Fool's Gold" (referring to deceptive economic data).

Federal Reserve's Daly: "Whether we should act immediately to address the labor market or wait is indeed a question."

Federal Reserve's Daly: Slightly optimistic that artificial intelligence will drive productivity growth, but still needs to be observed.