Bloomberg Businessweek Wall Street Traders on Hold in Run-Up to Jobs Data
Dec 15, 2025
Mike McKee, an economic and policy correspondent, dives into market caution as critical employment data looms. Meghan Robson from BNP Paribas reveals a bleak credit outlook, with sector-specific borrowing trends emerging. Sally Librera, of National Grid New York, discusses strategic upgrades to the energy grid to meet surging demand from data centers. Sri Natarajan highlights McKinsey's challenges amidst industry shifts and AI's impact on consulting roles, stressing their enduring market position despite hurdles.
AI Snips
Chapters
Transcript
Episode notes
Noisy Jobs Data From Shutdown Delay
- The delayed October household survey makes the November jobs print noisy and hard to interpret.
- Mike McKee warns markets will need time to parse furloughed federal workers and seasonal effects before drawing conclusions.
Focus On December CPI And January Jobs
- Watch December jobs and upcoming CPI for clearer Fed guidance rather than the backfilled November print.
- Markets should treat the November jobs number as provisional and wait for January data to shape policy bets.
Tariffs Could Keep Inflation Sticky
- BNP Paribas expects inflation to edge higher into 2026, driven partly by tariffs and goods-price pressures.
- Meghan Robson sees that potential bump limiting the Fed's ability to pursue an extended cutting cycle.