A quick JOLT to the equity and bond markets
Wednesday 30th August 2023
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Job openings declined more than expected in the latest data from the US. That\u2019s 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\u2019s Taylor Nugent says it\u2019ll 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\u2019s CPI data is out today, ahead of the RBA next week. Taylor talks through what to look out for in today\u2019s numbers.
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