Asia ignores Non-Farm Payrolls
5/10/2021 4:41:28 AM GMT Friday's gigantic Non-Farm Payrolls miss, payrolls rose by only 266,000 jobs, is quickly being dismissed as an anomaly. The signs were already there in New York, with US 10-year yields plunging to 1.45% before rising back to 1.57% at the close. Stock markets rallied while the US Dollar was pummelled. All very much global recovery behaviour with a dash of nagging inflation doubts. Asian stock markets are off to a positive start today, but the commodity space is the real eye-opener. Shanghai Steel Rebar futures opened 10% higher and are now still 6.0% higher. Iron ore f...