Last Friday’s robust US labour market reports for October virtually confirm the Fed will raise the Fed Funds rate 25bps at its December meeting, in our view. Job growth was stronger than expected 165k pushing the three-month average for job gains to 137k/m. More important was the fall in the unemployment rate to 4.1% and the 0.4% mom rise in average hourly earnings, the strongest gain since January.

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Vis Nayar

Vis Nayar is the Chief Investment Officer and a member of the Executive Management Committee at Eastspring Investments. Vis spearheads Eastspring’s investment platform encompassing equities, fixed income, multi asset and quantitative solutions, and oversees investment offerings across markets.

Information provided is general information and is for educational purposes only, and does not include, or constitute as, financial product advice.