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Daily Alert: US employment growth disappoints. NASDAQ sets a record and yields rise anyway

  • In US economic data, Non-farm Payrolls (employment) rose by 235,000 in August much weaker than the consensus of analysts’ forecasts centred on a lift around of 750,000.
  • On Friday the RBNZ announced it is seeking views on its proposal to reduce risky mortgage lending by further reducing the amount of high Loan-to-Value Ratio (LVR) lending to owner-occupiers.
  • We expect Q1 building activity (building work put in place) to lift 1.7% - adding to the previous quarter’s lift of 3.7%.

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