Temperature will reach up to 36ºC and 37ºC in Abu Dhabi and Dubai, respectively
uae4 hours ago
A sharp deceleration in hiring could revive expectations that the economy warrants a third bout of large scale bond purchase from the Federal Reserve, nicknamed QE3, analysts and investors said.
The median forecast in a Reuters poll for the government’s non-farm payrolls reading in April is an increase of 170,000 jobs, higher than 120,000 gain reported in March. Traders cite other polls whose median forecasts are in the 160,000 area.
“If the payroll number is strong, then we would expect see a sell-off in U.S. Treasuries and a rally in risk assets. A weak number will likely see U.S. Treasuries rally and a risk asset sell-off, while conversely a very weak number could put QE3 back on the table and serve to support risk assets,” said Robert Vanden Assem, head of investment grade fixed income at PineBridge Investments in New York, which manages about $67 billion in assets.
The U.S. Labor Department will release its April job figures at 8:30 a.m. (1230 GMT).
The benchmark 10-year Treasury note was unchanged in price at 100-19/32, yielding 1.93 percent.
The 30-year bond notched up 3/32 in price to 100-4/32, yielding 3.12 percent, down 4 basis points from late on Thursday.
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