Jumbo jobs number sees Dec rate cut calls vanish

12 November 2015

 

The ABS released the October Labour Force figures which came in at a seasonally adjusted +58.6k, significantly higher than market expectations of a +15k increase. The local bond market saw an immediate jump in yields with 10 year yields rising sharply to just short of 3%, a full 9bps higher. Cash markets reacted sharply, sending the odds of two rate cuts next year back to zero and reducing the odds...

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