7th Dec - US Close: Payroll Monster

Regular links, European horror macro and the most exhaustive list of payroll commentary, ever!

Previously on MoreLiver’s:

7-Dec US Open

7-Dec Weekender: Best of the Week

7-Dec EU Open

6-Dec US Close ECB, federal Europ

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Roundups and Commentary

News – Between The Hedges

Markets – Between The Hedges

Recap – Global Macro Trading

Roundup – A View From My Screens

Roundup: Material downgrade of German 2013 – Kiron Sarkar / The Big Picture

Strong North American Jobs Data Sends Both Dollars Higher – Marc to Market

Reference

Debt crisis live – The Telegraph

The Euro Crisis Blog – WSJ

Tracking Europe’s Debt Crisis – NYT

FX Options Analytics – Saxo Bank

European 10yr Yields and Spreads – MTS indices

Economic Calendar – Forexpros

EUROPE

ECB rate cut possible following "serious" debate – Reuters

Germany’s Economy Hits the Skids – WSJ
Bundesbank cuts growth outlook as crisis bites – Reuters

Bundesbank Slashes 2013 German Growth Forecast to 0.4% – BB

UK manufacturing output drops sharply in October – The Telegraph

Fastest drop since June when extra public holidays dented production

S&P sees Italy GDP contracting in 2013, political risk on reform – Reuters

Ratings agency Standard & Poor's said on Friday it sees a significant risk that Italy's recession-hit economy will not recover in the second half of 2013, and instead will continue to contract.

Greece joins cool circle – alphaville / FT

The Greek debt buyback should be completed on Friday if deadline talk is to be believed.

UNITED STATES

  EMPLOYMENT REPORT

Payrolls in U.S. Increase More-Than-Forecast 146,000 – BB

Employment ducks Superstorm Sandy's punch – Reuters

November jobs report: A decent number with lots of caveats – Wonkblog / WP

The employment emergency is over – Felix Salmon / Reuters

Employment Situation Summary – Bureau of Labor Statistics

Flash Comment: US - the labour market is moving forward – Danske Bank (pdf)

Stronger than expected US employment report – ignore it – Nordea

Establishment +146k; household -122k jobs; Labor Force Shrinks by 350,000 – Mish’s

Four Takeaways From November’s Jobs Report – WSJ

Analysis: Some Good and Bad in Jobs Report – WSJ
Shades of Sandy in Unemployment Rate Drop – WSJ
The jobs report, in six charts – Wonkblog / WP

U.S. Employment Situation – November 2012 – Global Macro Monitor

Economists React: Employment Growth Holding Up – WSJ

Unemployment Volatility Highlights Complications for Fed Communication – WSJ
No News is Good News? – Tim Duy’s Fed Watch

November Employment Report: 146,000 Jobs, 7.7% Unemployment Rate – Calculated Risk

Employment Report: More Positives than Negatives – Calculated Risk

146K New Jobs, Unemployment Rate Drops to 7.7% – dshort

The Unemployment Rate Does Not Signal a Recession Now – dshort

Real Hourly Wages and Hours Worked: New Update – dshort

Unemployment 7.7 Percent, Lowest Since Jan-09 – Ed Dolan / EconoMonitor

Private Payrolls Rise More Than Forecast In November – The Capital Spectator

Today’s Employment Report Changes Little – The Daily Capitalist

The US Employment Situation, November 2012 – PragCap

146k Jobs Added, Beat Expectation Of 85k, Unemployment Rate Lower At 7.7% – ZH

Job Quality Vs Quantity: Number Of Jobs vs Average Hourly Earnings – ZH

Jobs "Additions" By Age Group Reveals The Scariest Picture – ZH

The soft bigotry of low expectations – Free exchange / The Economist

US November employment report: Good but not great – Saxo Bank

  MICHIGAN CONSUMER SENTIMENT

Confidence falls sharply, DC patience thin? – The Big Picture

Consumer Sentiment Tumbles – WSJ

Preliminary December Consumer Sentiment declines sharply to 74.5 – Calculated Risk

Michigan Consumer Sentiment Falls Below Expectation – dshort

UMich Confidence Plunges, Biggest Miss On Record As Outlook Crashes – ZH