Bank Of America Told Clients About Twitter's #NFPGuesses To Help Predict The Jobs Report This Week

Here's another cool sign of how Twitter is breaking seriously into the world of finance.

See, every month on Jobs Day, Twitter does this thing called #NFPGuesses which is, obviously, where people enter in their guess for the Non-Farm Payrolls gain.

This week, Agostino Rusconi of BofA sent a note to clients telling them about this, and where Twitter stood.

Here's the email that was sent to traders yesterday:

Subject:BullPoint : NFP Estimates: Wall St. vs Main St.

BOTTOM LINE: Reuters NFP estimates compiled surveying economists for this Friday's data release show a mean of 119k, and 120k median estimate (vs 110k BofaML). It's interesting to compare the 90 Wall Street economists estimates against Main Street, and that is possible by aggregating Twitter estimates preceded by the #nfpguesses hashtag. (see http://www.financemonk.com/) Currently the Twitter average stands at 133k, and median at 125k, that means that the street feels more upbeat about September's employment data, but that increases the downside risk on a dissapointing report. The data points available are still limited, considering that the ECB is under the spotlight at the moment, and dispersion is still considerable. I will provide an update once we start to see more data flowing in.