NAB – The Morning Call · Jobs, stimulus and bond yields

Jobs, stimulus and bond yields

Friday 14th August 2020

Jobs data is confusing right now. How much is it influenced by government stimulus activity? Well, not much in the US right now because an agreement still hasn’t been reached, but weekly new claims are below a million for the first time since March. In Australia unemployment has risen to 7.5%, before the Melbourne lockdown. NAB’s Gavin Friend talks through the data, and the market reaction, with equities still high and the bond sell-off continuing even as the US Treasury auctions off a heap more of them. And will Auckland stay in lockdown? Also today, a slew of performance data from China and US retail sales.

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