Weekly Market Commentary (11/10): Watching Labor, Debt & Holiday Spend Amid the Government Shutdown скачать в хорошем качестве

Weekly Market Commentary (11/10): Watching Labor, Debt & Holiday Spend Amid the Government Shutdown

This week’s Market Note with Alex Varner (Head of Research) and James Maxwell (VP of Research) covers: • Labor Market: October’s ADP payrolls rose 42K, driven entirely by large firms. Small and medium businesses—responsible for over 80% of U.S. employment—continue to show weak hiring momentum. • Household Debt: Q3 debt rose by $197B, led by mortgages and credit cards. While delinquency rates are edging higher, overall debt servicing remains manageable and below long-term medians. • Layoffs & Hiring: Job cut announcements hit the highest October level in 20 years. For the first time since 2012, 2025 may see announced layoffs outnumber hires—though actual claims remain stable. • Manufacturing & Services: PMIs show steady but uneven growth—manufacturing mixed, services improving modestly across the U.S. and Eurozone. • Holiday Spending: Consumers plan to spend slightly less this season ($890 vs. $902 in 2024), signaling a softer but still resilient retail outlook. Click here to read this week’s full Weekly Market Note: https://www.mainmgt.com/wp/wp-content...