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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