Will strong jobs numbers add to the Feds battle tonight?
Friday 2nd September 2022
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We know the world is in an awkward place, but we keep getting positive data reads, like a strong manufacturing ISM from the US, retail sales picking up in Germany, UK house prices still strong \u2013 all the things central banks don\u2019t really want to hear right now. So what happens if non-farms payrolls in the US tonight shows a labour market that isn\u2019t showing any signs of weakening? NAB\u2019s Ken Crompton reckons a soft read will cause more of a fall in bond yields than the response to a stronger set of numbers. It\u2019ll be an asymmetric response, he says.
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