Getting high on jobs growth

Monday 4th November 2019 US equities hit new highs again on Friday. NAB’s Rodrigo Catril says the optimism follows the release of better than expected non-farm payrolls data on Friday. But Phil Dobbie asks whether the numbers are that good, when compared with the long term trend. Perhaps they’ll improve if a US China trade resolution is found. The best we can hope for us a cessation of rising tariff rates, but that could happen with word of a ‘consensus in principle’ over the weekend. Also, what to expect from the RBA tomorrow, with suggestions of a revised Policy Targets Agreement. Plus, the NAB expectation for Australia’s retail numbers today.