US nonfarm payrolls increased by 850,000 in June versus the estimate for 706,000...
But..
The US 10 year treasury yield dropped %3.31 overnight !?
The bond markets pricing in deflation.
If the bond market is correct we're moving into deflation over the next few years.
This will take the pressure of the RBNZ to raise the OCR.
But..
The US 10 year treasury yield dropped %3.31 overnight !?
The bond markets pricing in deflation.
If the bond market is correct we're moving into deflation over the next few years.
This will take the pressure of the RBNZ to raise the OCR.
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