US jobs hot, Macron snaps
Bond yields rising as the US jobs numbers push back cut expectations for the Fed. The Fed meets tis week and we get see the revision to their dot plot. NAB’s Taylor Nugent talks us through it all.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 11th June 2024
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Non-farm payrolls came in a lot higher than expected in the US on Friday. Not only were there more people in jobs, but wages are also rising faster than expected. Phil asks NAB’s Taylor Nugent how uncomfortable this will be for the Fed and what it’s done to market expectations There will be a lot of focus on the FOMC meeting this week, with the dot plot telling us when the Fed thinks we’ll see rate cuts. Whilst the ECB has been working hard to reel back expectations for rate cuts in Europe, President Macron has thrown the cat amongst the pigeons by calling a snap election in France, in response to a lurch right in the weekend European Parliamentary elections. It’s not going to be a dull week.
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