Getting high on jobs growth

US equities hit new highs again on Friday. NAB’s Rodrigo Catril says the optimism follows the release of better than expected non-farm payrolls data on Friday. But Phil Dobbie asks whether the numbers are that good, when compared with the long-term trend. Perhaps they’ll improve if a US China trade resolution is found. The best we can hope for us a cessation of rising tariff rates, but that could happen with word of a ‘consensus in principle’ over the weekend. Also, what to expect from the RBA tomorrow, with suggestions of a revised Policy Targets Agreement. Plus, the NAB expectation for Australia’s retail numbers today.

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