Jobs Frenzy

Friday 7th July 2023NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABClearly markets are very concerned about jobs data being too-strong after a big rise in the latest ADP numbers and in the employment component of the latest services ISM survey. The JOLTs numbers also showed an increase in job openings. All running contrary to the expectations of the Fed. NAB’s Gavin Friend says it adds to the overarching theme of resilience in the US economy – a word frequently mentioned in the last Fed minutes. The result has been a sharp rise in bond yields today, drops in equities and a significant fall in the Aussie dollar on the back of the rising risk sentiment. Hosted on Acast. See acast.com/privacy for more information.