Tuesday 8th June 2021
If the non-farm payrolls gave the markets a Goldilocks moment on Friday – with jobs numbers that weren’t too hot or too cold – then maybe markets are already starting to question whether it was exactly what was needed. As NAB’s Ray Attrill points out, US CPI numbers later in the week, ahd the expectations of them, could tip the balance a little. But, could the speed of recovery also be a concern. The US is showing growth, and its likely the JOLTs numbers today wll show there are lot sof job openings, but will they be filled? And why are China’s exports down? Could it be to do with supply constraints, or could it be lack of demand, particularly when much of Asia is facing increasing lockdowns and restrictions.