Shares posted their tenth gain in 12 sessions, climbing to a nine-month closing high after a weaker-than-expected jobs report prompted bond and equities traders to cut expectations on the pace of future interest rate rises.
The economy shed 14,600 jobs in December, the Australian Bureau of Statistics said. That was well below economists’ expectations for a gain of 22,500 positions, and below the three-month trend of 38,100 jobs added. The data followed weak US retail sales overnight as traders moved to reprice risk assets.
Loading...
Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
