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03 Aug 2023

US payrolls in focus

Higher yields. The upswing in long-end bond yields has continued. A combination of factors looks to be at play. FX markets were subdued overnight.Data flow. BoE hiked rates by another 25bps, but the tightening phase could be nearing the end. RBA Statement on Monetary Policy released today.US payrolls. US labour market data released tonight. Another solid jobs report could see pricing for another US Fed rate rise lift. The extension of the sell-off in global bonds has been a feature of markets. Long-end rates continue to lead the way with the US 10-year yield up another ~10bps. At ~4.18% the...

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