Markets continued their decent today with tech taking the brunt of the losses as US job data for December showed unemployment rate in the US at 3.9% which is just below the 3.5% pre pandemic unemployment level. Rises in hourly earnings also painted a positive picture of the labour market in the US. The market has seen this as evidence the FED now have all the reasons they need to raise rates sooner than the market expects with investors starting to price in a rise as soon as March. This move has prompted weakness in both US growth stocks and treasuries.
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US inflation at levels not seen since the 80’s
US inflation at levels not seen since the 80’s