BlackRock: Non-farm payrolls imply the Federal Reserve will maintain the status quo; the macro narrative has been dominated by AI themes.

Mars Finance News: On May 8, BlackRock portfolio manager Jeffrey Rosenberg said there is a “trade-off” between strong non-farm employment data and weak wage growth. From a broader perspective, this report has not actually released any major change signals, and for the Federal Reserve, it still amounts to “maintaining the status quo.” From a more macroeconomic level, the current macroeconomic data has already been “dominated by AI themes.” “When we look at GDP data and spending, the driving factors are no longer mainly consumption, but more capital expenditures. And when we look at financial markets, what truly matters more is the impact brought by AI.” (Jinshi)

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