Tight labour, hawkish banks, angry Putin
Monday 10th October 2022
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There was a strong market reaction to non-farm payrolls on Friday, which suggested the US labour market remains tight, with the unemployment rate falling. NAB\u2019s Tapas Strickland says it was another of those \u2018good news is bad news\u2019 moments, likely to keep the Fed on its hawkish path for some time yet. That could be reinforced if CPI data this week remains strong. The question is, how will any central bank know when it has overshot its target? There could be some caution today as the world waits for Putin\u2019s response to the Crime bridge explosion.
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