US 2y yields hit a new high this week:
Brent Crude Oil is down at a key pivot level:
And for folks intending to overweight European equities vs the US, this is the long term trend they’re betting against:
- US Employment:
- Payrolls jumped 321k vs 230k exp. Revisions added 44k to previous figures
- Unemployment was stable at 5.8% as exp, as household employment and the participation rate were both unchanged. The Underemployment rate ticked down to 11.4% vs 11.5% prev
- Average Hourly earnings rose 0.4% MoM vs 0.2% exp, but the YoY figure was inline at 2.1% vs 2.0% prev
Canada Employment declined -10.7k vs 0k exp. Unemployment ticked up to 6.6% as exp vs 6.5% prev as the participation rate was unchanged.
EU 3Q GDP rose 0.2% QoQ and 0.8% YoY as exp.
- Mon: Japan Current Account, China Trade Balance, Japan Eco Watchers Survey, Canada Housing Starts, Australia NAB Business Confidence
- Tue: US NFIB, Australia Home Loans, China CPI
- Wed: RBNZ, Japan Machine Orders, UK RICS House Price Balance, AU Employment
- Thu: US Retail Sales, Jobless Claims, New Zealand PMI