Oddbean

Asian stocks track Wall St rally as US jobs data ease recession fears ========== Asian stocks rallied Friday as investors breathed a sigh of relief after US jobs data soothed concerns that the world's top economy could tip into recession, bringing a painful week to a positive end. Equities across the planet have seen big fluctuations since a closely watched gauge of the US labour market came in well below forecasts and fanned fears the Federal Reserve may have waited too long to cut interest rates. The non-farm payrolls report last Friday came just days after the US central bank hinted at a reduction in September and the Bank of Japan announced its second hike in 17 years, hinting at more to come. Those decisions sent the yen soaring to just under 142 per dollar and caused a rapid unwinding of the so-called carry trade in which traders take advantage of the weaker currency to buy higher-yielding assets such as equities. #AsianStocks #WallStreet #UsJobsData #RecessionFears https://www.legit.ng/business-economy/economy/1607018-asian-stocks-track-wall-st-rally-jobs-data-ease-recession-fears/