NAB – The Morning Call · Soft jobs numbers won’t dampen the Fed’s tapering intention
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Soft jobs numbers won’t dampen the Fed’s tapering intention

Monday 11th October 2021

Non-farm payrolls numbers from the US on Friday were less than expected, but NAB’s Rodrigo Catril says the numbers weren’t as bad as they seem, because they included an upward revision in the month before. The expectation is that the Fed will push ahead with tapering of bond purchases later in the year, with bond yields rising around the world, to multi-year highs in some cases. Inflation remains a concern, because of supply chain disruption, rising fuel prices and wages. That might be good news for the Aussie dollar iron ore rose 6 percent on Friday – but N AB has downgraded forecasts given the expected strength in the US dollar during this climate of uncertainty. Listen in to find out more.

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