Bond sell-off continues, BoE tightens, jobs numbers tonight

Friday 4th August 2023NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABBond yields pushed higher in this session, with equities left going nowhere, at least until after hours trading with a couple of significant earnings results – Apple and Amazon. JBWere’s Sally Auld says the bond sell-off is a conflation of several factors, including this week’s BoJ moves on YCC, the increased net borrowing from the US government and continued resilience is the US economy. There’s also the uncertainty around what to expect from the non-farm payrolls numbers tonight. If they echo the ADP numbers it’ll be an unpleasant surprise for the Fed. But there are further soft-landing signs for the US in data out overnight, including falling labour costs and rising productivity. Hosted on Acast. See acast.com/privacy for more information.