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21st May 2024 17:32USDaily Monitor

  • S&P's employment index has a poor long-term correlation with payrolls, but markets are paying attention now.
  • Leading indicators leave us looking for an above-consensus 230K initial claims print today.
  • "Various" FOMC members signalled willingness to hike in the minutes, but the data has moved on since then.

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Keywords for: 23 May 2024 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence