July 3rd, 2020
Good afternoon from London. Today it’s just me Ritvik bringing you the daily chart, with some commentary.
Thursday’s U.S. non-farm payrolls released showed a surge of 4.8 million jobs in June, coming in well above the 3 million consensus forecast. With a range of economic data across the board showing improvement, Citi’s economic surprise index for the United States touched a record high. It’s worth noting here that the index measures how well or badly incoming economic data is doing relative to consensus forecasts. Even as markets appear to cheer the snapback in data, they will have to weigh the risk of renewed lockdowns amid a resurgence in coronavirus cases against signs of economic recovery: Thursday also saw the single largest daily increase in cases in the U.S., with over 55,000 according to one tally.
Chart and commentary by Ritvik Carvalho
If you liked this, do consider subscribing. It’s free, and delivered to your inbox daily!