Australian shares to fall, as global bond sell-off accelerates as Australian, US bond yields climb. Birkenstock IPO touted. Follow updates here.
The June jobs report is seen as one of the key data points on whether the Federal Reserve will lift rates once more, or twice.: “Huge variations in leading indicators make June payrolls even wilder than usual; our guess is 250,000. A further rise in unemployment and soft wage numbers would complicate the picture; they’re noisy too.
“After June’s pause, the FOMC is almost certainly going to hike again at the end of this month in my view. Tight labour markets are a key reason for the Fed’s continued hawkishness, but monetary policy is mainly driven at the moment by stubbornly high core inflation. Thus, while these numbers will be closely watched, policymakers will primarily be focused on next week’s CPI report, where I look for yet another 0.4 per cent core increase.
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