Fed officials, such as Mester, continue to make hawkish remarks, emphasizing further interest rate hikes.
OPEC+'s sharp production cuts help oil prices sprint "five consecutive rises", and is expected to record the largest weekly increase since March.
After the release of the US non-farm payrolls data, the UK 20-year bond yield rose to 4.537%, the highest since September 28.
In normal times, strong job growth and rising wages would be considered good news. But now, as the Fed tries to beat inflation, a strong job market is just what the U.S. economy doesn't need.
A stronger-than-expected jobs report would have a negative sentiment effect on markets by signaling that the Fed needs to take more aggressive rate hikes on inflation. Conversely, a weaker-than-expected jobs report could offer a silver lining to the market.
Also, in addition to the overall employment data, we have to keep a close eye on wage growth. Higher wage data would firm up the Fed's stance.
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