NAB – The Morning Call · US bounce pushes equities to record highs

US bounce pushes equities to record highs

Tuesday 6th April 2021

US equities have been boosted by a string of positive data. The ISM manufacturing read at the end of last week bounced back sharply, and the services number reached a new record high this morning. Plus, non-farm payrolls on Friday also punched the lights out. NAB’s Ray Attrill says even though shares responded, Treasury yields are actually lower than they were before this swathe of positive numbers and the US dollar has fallen, indicating it is responding negatively to risk sentiment at the moment. Today the RBA meets, job vacancy numbers are out for Australia and the Caixin Services PMI is out in China.

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