Will US payrolls rebound?
• Mixed signals. US equities rose on Friday. Bond yields nudged up. US holiday tonight but there is plenty of important data on the horizon.• USD bounce. Higher US yields generated a bit of USD support. AUD eased. Markets still look to be pricing in too much US Fed easing, in our view.• Event radar. Locally, Q2 GDP & a speech by RBA Gov. Bullock in focus. Offshore, US jobs data due with non-farm payrolls rounding out the week. US equities rose on Friday with the S&P500 (+1%) now fractionally under its record high. The early-August panic volatility has faded...