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Here’s the one thing the market is not prepared for: Jakobsen

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May 05, 2016 2016, data, economist, fed, federal reserve, gdp, investing, investor, jobs, labour market, macro, market, markets, may, nfp, nfps, saxobank, saxobank.com, saxotrader, saxotradergo, saxotv, steen jakobsen, trader, trading, tradingfloor.com, tradingfloorcom, united states, us, usd
The market may think otherwise, but investors and traders should be braced for bad news as the US labour market is about to go south, says Saxo Bank’s Chief Economist Steen Jakobsen.
  
The latest nonfarm payrolls are due on Friday and if you look at the US Federal Reserve’s broad-based employment index, there are clear signs that everything in the US is weakening, Jakobsen says.

He explains why US jobs data is likely to deteriorate and how that increases the risk of the US economy slipping into recession-like conditions.