| US nonfarm payrolls jobs data surprised to the upside last week, fuelling expectations that the Federal Reserve will move to ‘taper’ its bond buying program in H2 2013. While jobs numbers have been better than expected recently, rising bond yields are likely to give the US central bank a reason to keep current stimulus activities in place.
Market participants appear to be largely ignoring other mixed US data, like last week’s disappointing reading for the US manufacturing ISM index. We expect investors will need to revise currently overly hawkish expectations regarding the Fed’s activities in coming months...............................................Full Article: Source
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