Citi discusses its expectations for tomorrow's March US jobs report.
"This week’s NFP print could also see further pressure on yields, with 600k (Citi) to 650k (market) new jobs forecast," Citi notes.
"Continuing the march toward pre-pandemic employment. The team calls for a figure of 600k versus consensus estimates at 650k, with strong employment supported by the ongoing domestic reopening. Nonetheless, they flag that markets may be most sensitive to a downside surprise given a widely shared expectation for a very strong report," Citi adds.