October 6, 2023
United States:
US Hiring Surges, Bolstering Case for Another Fed Rate Hike
US employment unexpectedly surged in September, illustrating a durable labor market and bolstering the case for another Federal Reserve interest-rate hike.
Nonfarm payrolls increased 336,000 last month — the most since the start of the year — after sizable upward revisions to the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate held at 3.8%, and wages rose at a modest pace.
Europe:
ECB’s Knot Says He’s Comfortable With Current Policy Stance
European Central Bank Governing Council member Klaas Knot said he’s content with existing monetary-policy settings as officials seek to bring inflation back to 2%.
“I think I’m comfortable with the current stance of policy as it stands,” the Dutch central bank chief told a panel discussion Friday in Slovakia. “That’s not to say that there will not be new shocks.”
Asia:
India Central Bank Strikes Hawkish Tone, Fueling Bond Rout
The Reserve Bank of India struck a hawkish policy tone on Friday, saying inflation needs to be tamed and it may take measures to absorb excess cash in the market, sparking a run up in the local bond yields alongside a selloff globally.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
