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Talks back on, bonds sell off

There’s been big moves on equities and bonds today as talks between the US and China appear to be back on. That’s created a slight risk-on mood, helped also by stronger than expected non-manufacturing ISM numbers in the US. Phil Dobbie asks NAB’s David de Garis whether the markets will be as responsive to the release of non-farm payrolls numbers tonight. They also discuss what to expect from Jerome Powell when he talks later, given that central bankers seem to have sounding a little less dovish of late. What stance with the ECB take next week – a bazooka of measures still? Yesterday’s factory orders add to the depressing picture on the state of the German economy. And Phil suggests a new rule for cricket – just to give the poms a chance.

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