ISM, jobs data seen setting size of U.S. rate cut
World stocks steadied on Tuesday and the dollar remained near a two-week high as investors turned cautious awaiting a raft of economic data that may determine how deeply the U.S. will cut interest rates.
Ten-year Treasury yields were down a basis point to 3.90% as trade resumed in Asia following a U.S. holiday. On Friday, analysts are looking for a rise of 160,000 in U.S. non-farm payrolls and a dip in the unemployment rate to 4.2%. “It really boils down to Friday’s number,” said Raisah Rasid, global market strategist at J.P. Morgan Asset Management in Singapore, with policymakers looking for a cooling labor market to clear the way for rate cuts.
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