Jobs Data May Shift BlackRock's View on Rates: Rosenberg

Jeff Rosenberg discusses the impact of recent nonfarm payroll revisions and the delta variant on economic trends. He highlights the pre-CDC mask guidance context and the temporary nature of variant surges, drawing parallels with India and the UK. The conversation shifts to interest rates, labor market strength, and inflation, emphasizing a strong economic report. The potential for a regime shift in interest rates is considered, with a focus on broadening inflation signs.

What is the significance of the timing of the payroll report in relation to CDC guidance changes?

• It includes all recent CDC updates.

• It reflects the latest CDC guidance changes.

• It is unrelated to CDC guidance.

• It predates the CDC mask-wearing guidance change.

How do the patterns observed in India and the UK regarding the delta variant affect economic indicators?

• They have no impact on economic indicators.

• They indicate a potential peak in negative news.

• They suggest a permanent surge in cases.

• They lead to a decrease in interest rates.

What has been the impact of the delta variant patterns on interest rates?

• Interest rates have decreased significantly.

• Interest rates have remained stable.

• Interest rates have increased sharply.

• Interest rates have experienced a protracted rally.

What does the strong labor market report suggest about inflation?

• It predicts a deflationary trend.

• It shows no change in inflation.

• It suggests a broadening out of inflation.

• It indicates a decrease in inflation.

What potential shift is indicated by the strong labor market report?

• A shift towards lower interest rates.

• A regime shift in economic policy direction.

• A move towards higher unemployment.

• A decrease in economic growth.