That is a large number on the Aussie employment data (75.9K actual, vs 17.5K expected, and a negative number in the prior month).
The market seems a little unsure of how to trade it. Same here. 10 year yields up somewhat, but longer duration property remaining up, seemingly benefiting from a) it would appear we aren’t in recession, with a) offsetting b) higher rates clearly required if jobs data continues at that pace. I double checked that sentence, it holds/works-the-way-it-is-meant-to.
No great conclusions. The RBA is tightening due to inflation, some of it demand driven, some of it supply side driven, that will crunch the housing market, and through the wealth effect, cyclical/discretionary expenditure.
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