Until now, the BLS official website has not updated the announcement of the non-agricultural data downward adjustment, but issued another announcement.

Today, BLS revised the non-farm data. The approximate time should be 10:00 a.m. on August 21, 2024 in the Eastern Time of the United States. Switching to Beijing Time is 22:00 later.

After yesterday's fermentation, basically the entire risk market needs to know that the data may be revised downward by 1 million.

WSJ's chief economic reporter, @NickTimiraos, who I often mention, also mentioned in his tweet last night that the data revised by 1 million is 0.06% of the employment value. This is not the first large-scale revision in history. The last time it happened was in 2009, when 902,000 people were revised, with a magnitude of 0.7%, which is larger than this time.

Therefore, the large-scale revision of employment data this time will not be very sensitive to the impact on the risk market. At the same time, the revised data may not bring any benefits. I personally expect the market to be relatively stable, and there is also a small probability. This large-scale revision of data may trigger some economic recession theories, which is bad for the risk market. Of course, this probability is low at present.

If the data is stable tonight, the focus of this week's data will be Powell's speech on Friday, which will also be at 22:00. After the data is released later, I will compare it with the previous data to confirm my above ideas.
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