The Chicago Entrepreneur

: Deutsche Bank, Jefferies expect Friday’s job data to come in way above consensus estimate

Friday’s nonfarm payrolls report for February is likely to come in way above the consensus estimate, repeating the trend seen in January’s data, according to a pair of Wall Street firms. Deutsche Bank’s economists expect to see a job gain of 300,000, above the 215,000 consensus estimate, citing February’s mild weather as one likely influence. Aneta Markowska and Thomas Simons, economists at Jefferies, said they expect to see a gain of 290,000 for last month. A stronger-than-expected jobs report has the potential to trigger another round of repricing in financial markets similar to the one seen after January’s nonfarm payroll report. As of Monday morning, a day before the start of Federal Reserve Chairman Jerome Powell’s semiannual testimony to Congress, all three major U.S. stock indexes were moving higher, while Treasury yields were mixed.

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