Markets spike because of heavily massaged, Fudged and tweaked Jobs report and they fell for it again

Friday, May 3, 2013
By Paul Martin
May 3rd, 2013

Here’s The ‘Whisper Number’ For The Jobs Report

When the Bureau of Labor Statistics publishes the April jobs report at 8:30AM ET, economists expect to learn that the economy added 140,000 nonfarm payrolls during the month.

That number is based on a Bloomberg survey.

However, according to TD Securities’ Millan Mulraine, the market is pricing in a lower number thanks to Wednesday’s bad ADP jobs number. From Mulraine’s note:

Even though the current market consensus is for 140K, the post-ADP price action suggests that the true position in the market (the whisper number) may be for something closer to 125K.

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