U.S. Nonfarm Payrolls Surprise, Global Yields Spike, Uncertainty Abounds

Published on
February 3rd, 2022
Duration
58 minutes

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U.S. Nonfarm Payrolls Surprise, Global Yields Spike, Uncertainty Abounds

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Featuring Peter Boockvar and Maggie Lake

Published on: February 3rd, 2022 • Duration: 58 minutes

The Bureau of Labor Statistics nonfarm payrolls report for January showed a rise of 467,000, with the unemployment rate basically unchanged at 4.0%. The Wall Street consensus expected a gain of 150,000. The Federal Reserve is set for a March liftoff to its rate-hiking cycle; the question now is whether 50 basis points is on the table. Meanwhile, the European Central Bank shifted its focus to inflation-fighting, the Bank of England announced a second consecutive increase to its benchmark interest rate, and global yields surged. Peter Boockvar, chief investment officer of Bleakley Advisory Group and editor of The Boock Report, joins Real Vision’s Maggie Lake to discuss the current employment situation and what it tells us about the U.S. economy. Boockvar also shares his thoughts on how central bank tightening will impact investors and consumers in coming months.

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