Summary: Employment up 38,500 in April, greater than expected; Westpac: Labour demand cooler but has translated into only gradual softening in employment growth; ACGB yields fall heavily; rate-cut expectations firm noticeably; ANZ: fall in hours worked “noteworthy”; participation rate ticks up to 66.7%; jobless rate rises from 3.9% to 4.1%; more part-time jobs, more full-time jobs; aggregate work hours steady; underemployment rate ticks up to 6.6%. Australia’s period of falling...