MBCC TH 4th Oct'24 - "All eyes on the NFP, but watch US 10 year Bond yields as inflation/breakevens moving higher, everyone short $USD? What is the pain trade for October?"

So today is the key NF payrolls day, market is expecting 140K. Even though every number from the past has been revised lower, it will be important to gauge how weak the labour market is and if so, the implications for Fed interest rate policy…

Something is brewing in the Bond market…we tell you what it means!