- In anticipation of statistics on the labour market, investors watched as global markets stabilised on Thursday, with US equity futures and bonds trading marginally weaker.
- The yield on 10-year Treasuries increased to 4.74% while contracts for the S&P 500 declined by 0.3%. While West Texas Intermediate crude maintained its price of $84 per barrel, the dollar remained stable.
- After volatile market movements this week caused by US bond yields—the benchmark for the world's cost of capital—soaring to multi-year highs, investor sentiment is still fragile. Both the monthly payrolls report and the weekly US unemployment claims statistics are anticipated later today, which could confirm predictions of a rate increase in November. At the moment, swaps predict a one-in-four likelihood that the Fed will act next month.
- According to Société Generale strategist Kenneth Broux, the 10-year Treasury yield will either increase to 5% or decrease to 4.5% depending on this Friday's payroll statistics and next week's inflation reading. He went on to say that "another wave of dollar buying and bond selling" could result from a higher-than-expected jobs statistic.
- UK September decision maker year-ahead CPI expectations at 4.9%.
- ECB's Kazimir: We should not at the moment use other tools such as the balance sheet until we are certain we do not need to hike rates further.
