After an abysmal headline Non-Farm Payrolls (NFP) report for May, June saw a complete 180-degree turn with this morning’s reported reading for total non-farm payrolls coming in at 287K compared to expectations for a gain of 180K. That beat of 107K qualifies as the best headline print relative to expectations since December 2009 (November 2009 report), and based on our Economic Indicator Database, the 10th best report relative to expectations since 1998. The table to the right lists each of the ten prior NFP reports where the initial print exceeded consensus estimates by the widest margin.
In a B.I.G. Tips report just sent to Bespoke Premium and Bespoke Institutional members, we provided an analysis of the S&P 500’s performance on each of these prior ten days. Read the full report by signing up.
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