Soft jobs, but not too soft

NAB Morning Call · Jul 2, 2026 · 14m

Friday 3rd July 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABThe non-farm payrolls from the US overnight came in softer than expected, but NAB’s Rodrigo Catril strong enough for the Fed to dismiss concerns about the labour market and focus more of inflation. Phil asks him about the impact of this on bond markets, whilst equities have been hit by more AI concerns. With Anthropic reportedly teaming up with Samsung to develop their own bespoke chips it increasingly hard to know how to pick the winners. They also discuss the rise in the Yen. If…