Sniff sniff, känner vi lukten av QE3?

Fed kommer inte se med lugna ögon på dagens arbetsmarknadsstatistik från USA. Sikta in er på QE3 i maj eller juni. Rickards kommer säkerligen få rätt i sin tajming.

Employers Added 120,000 Jobs in March, Fewest in Five Months

"Employers in the U.S. added fewer jobs than forecast in March, underscoring Federal Reserve Chairman Ben S. Bernanke’s concern that recent gains may not be sustained without a pickup in growth.

The 120,000 increase in payrolls, the fewest in five months, followed a revised 240,000 gain in February that was bigger than first estimated, Labor Department figures showed today in Washington. The March increase was less than the most pessimistic forecast in a Bloomberg News survey in which the median estimate called for a 205,000 rise. Unemployment fell to 8.2 percent, the lowest since January 2009, from 8.3 percent.

Faster employment growth that leads to bigger wage gains is necessary to propel consumer spending that accounts for about 70 percent of the economy. Today’s data showed Americans worked fewer hours and earned less on average per week, helping explain why policy makers say interest rates may need to stay low at least through late 2014."

QE to infinity gäller. Så fort centralbankerna släpper foten från gaspedalen så faller ekonomierna. Next target - MBS'er.