A quick JOLT to the equity and bond markets
A sharp reaction to a fall in job openings in the US, but will it last? It all depends on Friday’s non-farm payrolls, says NAB’s Taylor Nugent. Plus, Australian inflation numbers today.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 30th August 2023
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Job openings declined more than expected in the latest data from the US. That’s seen bond yields drive lower as investors hope this slight weakening in the labour market will see off any further hikes by the FOMC. NAB’s Taylor Nugent says it’ll have to be confirmed with the non-farm payrolls numbers on Friday night. The ADP employment numbers later today have been a notoriously unreliable indicator lately, but markets are still likely to respond if the number falls outside expectations. Locally, Australia’s CPI data is out today, ahead of the RBA next week. Taylor talks through what to look out for in today’s numbers.
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