US posts record job numbers in September

US job creation surged in September by 336,000 jobs being created against an expectation of just 170,000. Again, this is a positive for the US economy which continues to grow with more and more people employed. On the flip side this spells bad news for those waiting for a bond market rally and interest rate cuts as a stronger economy suggests a more stubborn inflation picture for a longer period of time. The odds for another US rate hike in 2023 once again moved higher as US bonds and equities sold off.