Cool Jobs, Majority Lost
Wednesday 5th June 2024
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Bond markets continue their rally, with yields down again this morning. NAB\u2019s Rodrigo Catril says it\u2019s in part down to the JOLTS data in the US overnight, which showed job openings slowing. That\u2019s pushed forward expectations for Fed rate cuts slightly. He also points to the election result in India, which saw the PM lose his majority, which could impact future growth and, therefore, energy demand. We\u2019ve seen commodity prices coming down again, hitting the Aussie dollar. Today we get Australia\u2019s GDP for Q1. What should we expect? And could the bank of Canada be the first G7 central bank to cut rates in this cycle? We\u2019ll find out later.
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