Investors anticipate upbeat statistics from US
This week, Wall Street is anticipating a raft of positive macroeconomic data from the US. Investors were discouraged by dismal nonfarm payrolls for February. Besides, pessimism is worsened by falling yields of 10-year US Treasuries which slumped the most in the recent 12 years. So, the debt market signals a threat of recession in the largest global economy.
Thus, market participants are alert to any macroeconomic report. They voice concern over a slowdown in the global economy that could eventually hurt the US economy.
Nevertheless, experts do not foresee recession in the US in the short term. Such optimism arouses from expectations of positive economic data, including retail sales, business activity in the manufacturing sector, durable goods orders, and employment in the public and private sectors.
Earlier, the US Department of Labor reported a minor increase of jobs in the US economy for February excluding agriculture. The US economy added just 20,000 jobs. The consensus for March suggests that the US labor market could have created 170,000 jobs.