64K NFP Coming?

The consensus is forecasting a sharp slowdown in nonfarm payrolls over the coming quarters, see chart below.

Consensus sees a sharp slowdown coming in US job growth
Sources: Bloomberg, Apollo Chief Economist

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Highly Unusual Divergence in US-EU Inflation Outlook

The consensus expects inflation to rise in the US and fall in the eurozone, see chart below. Combined with the worsening US fiscal situation, this highly unusual divergence will continue to put upward pressure on US rates across the curve and downward pressure on rates in Europe.

Consensus expects inflation to rise in the US and fall in Europe
Sources: Bloomberg, Apollo Chief Economist

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