The markets have been spooked by another US employment report. While the focus of economists is on the US Nonfarm payrolls report, due to be released on Friday. The JOLTS report published yesterday showed that August’s job openings were much more than anticipated, indicating an economy that has not cooled down despite the Federal Reserve’s (Fed) tight monetary policy.
Investors’ fears that the Fed would go higher for longer when it comes to interest rates forced them to sell government bonds. The 30-year US Treasury yield hit its highest level in 16 years, and the 30-year UK government bond interest rate hit 5%.
Table of Contents
- US Non-Farm Payrolls September 20,23
- RBNZ maintains interest rates at current levels
- Is the Japanese Yen receiving support?
US Nonfarm Payments September 2023
Bureau of Labour Statistics will publish the US Nonfarm payroll data for September 2023 on Friday. Dow Jones’ survey of market analysts expects that the report will show an increase by 170,000. NFP figures can surprise economists when they do not match forecasts.
The US Department of Labour published its monthly Job…