Markets jump on JOLTs and RBA surprise

From business.nab.com.au

October and Q4 has certainly got off to a good start for risk assets after a miserable September. While the moves up in equities (and down in bond yields) might yet prove to be no more than the product of poor poisoning/extreme equity market bearishness into the end of Q3 and bad (short) positioning in bonds, there are undeniably a few kernels of (US) data – JOLTS the latest – playing to the view the Fed could be done tightening before Christmas. The USD is hating the risk rally and pull-back in US Treasury yields, the fall in the DXY index since last Wednesday’s new cycle high comparable to what we saw back in ... (full story)