Bank of America: Risk assets may rebound if non-farm data meets expectations
According to PANews on October 4, Michael Hartnett, a strategist at Bank of America, stated that if the US non-farm payroll report released on Friday is within expectations, risk assets may rebound. The strategist said that if the data shows the US added 125,000 to 175,000 jobs last month, this would support the idea of a soft landing for the economy and keep bond yields within a range, triggering risk-on trades. Hartnett said the bulls are in control, and there are signs that China's stimulus measures are taking effect, and the Federal Reserve will also ease policy further. The strategist added that if non-farm employment exceeds 250,000 and the unemployment rate falls below 4.1%, it will push the 30-year US Treasury yield above 4.5%. If it is below 75,000 and the unemployment rate is above 4.3%, it would signal a recession.
