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Friday, February 7

7th Feb: US Payrolls, GCC surprises

Previously on MoreLiver’s:

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Draghi Starts Policy-Action Countdown as ECB Awaits DataBB
Waiting a month also allows breathing space to assess the selloff in emerging-market currencies and for the ECB to compile its latest macro-economic forecasts. Draghi said that officials will for the first time look ahead two years by providing inflation and growth estimates for 2016.

Poland’s Eurozone TestsProject Syndicate
The timing of Polish accession to the eurozone has been the subject of serious – often heated – debate. Before adopting the single currency, Polish policymakers must identify the necessary conditions that would allow the country to sustain its recent economic success.

What If Germany Is Booming and Nobody Noticed?BB
The German economy is doing much better than last year and may be 2.5 percent to 3.5 percent bigger than reported in the official statistics.

ECB’s ‘Whatever It Takes’ Questioned by Top German CourtBB
German judges refer ECB's bond-buying to European CourtReuters

Germany refers decision to ECJ, drops monetary veto – TradingFloor

The OMT — um, what does this thing do again? – alphaville / FT
OMT Tested in Court, Never in the Market – WSJ

Karlsruhe says no, refers to ECJ and suggests ECB should always be preferred creditor – Bruegel

GCC believes ECB bond buying is illegal, but asks ECJ to rule first – Open Europe

European – not German – judges to decide on ECB bond buying – Nordea

Geert Wilders outlines case for a Dutch ‘Nexit’ from the EU – FT
What’s the point of calling for a Nexit? – The World / FT
Rise of Eurosceptics in Netherlands Prompts Serious Discussion of "Nexit" – Mish’s

Hilsenrath’s Take: Listen to the Fed – and Watch Rate FuturesWSJ

Fed’s Rosengren: Fed Must Be ‘Patient’ in Cutting Back StimulusWSJ

Is U.S. Unemployment Really Much Better Than the Euro Zone’s? – WSJ
Another Month, Another Employment Report – Tim Duy’s Fed Watch
What to Watch for in January’s Jobs Report – WSJ

Employment Preview for January: Taking the Over – Calculated Risk

U.S. job growth seen snapping back from winter chill – Reuters
Weather it’s worth worrying about, who knows – alphaville / FT

How to read 2014′s first jobs report – WaPo
How to read the monthly U.S. Jobs Report – BB


Dismal Jobs Report Sends Stocks Reeling – ZH
January 113,000 Jobs, 6.6% Unemployment Rate – Calculated Risk
Big Miss Again At 113K Below 180K Expected, December Unrevised – ZH
U.S. employment fails to rebound strongly from winter chill – Reuters

U.S. Payrolls Rise Less Than Forecast; Jobless Rate Falls – BB
Highlights From the January Jobs Report – WSJ
Despite Dismal Jobs Report, "This" Is What Just Sent Equities Higher – ZH
BLS Revises Historical Job Numbers Higher By Half A Million – ZH

Unemployment Rate Telling a Much More Hopeful Story – WSJ
Job Growth Was Stronger Last Year

5 Takeaways From the January Employment Report – WSJ
Weak job report, but the Fed will remain on autopilot – Danske Bank
Those noisy payrolls figures – Felix Salmon / Reuters
After Revisions – WSJ
Economists React: For Economy ‘Winter From Hell’ – WSJ
Hilsenrath Analysis: Fed Likely to Stay Course on Rates and Bond Buying – WSJ

Goldman Sachs: "Confusing", "Disappointing", "Little Negative Weather Impact" – ZH
The Biggest Job Winners (Construction) And Losers (Government) In January – ZH
Economy added 113,00 jobs in January; unemployment rate dips to 6.6 percent – WaPo
Comments on Employment Report: Disappointing Payroll Number – Calculated Risk

Another Disappointing Jobs Report – dshort
The Unemployment Rate Is Not Signaling a Recession – dshort

5 Takeaways From the January Employment Report – WSJ
Weak job report, but the Fed will remain on autopilot – Danske Bank

Those noisy payrolls figures – Felix Salmon / Reuters

The jobs report was a mixed bag – Nordea

Non-farm payrolls grew by 113k in Jan; weaker than expected – Handelsbanken

Will Asia Ignite a Second Arab Spring?The Diplomat
Asia’s economic slowdown threatens to disrupt the Persian Gulf monarchies that were able to weather the Arab Spring.

Mobius Says Emerging-Market Selloff to Deepen Amid OutflowsBB

HSBC China Services PMI (with composite data)Markit
China Services PMI Slides To Lowest Since Aug 2011; 2nd Lowest On RecordZH

Suomen vienti kääntyyi loppuvuonna nousuun Roger Wessman