EIGHT-THIRTY within the morning on the primary Friday of each month is a particular time for bond merchants: it’s when America’s Bureau of Labour Statistics normally releases its month-to-month jobs knowledge. Regardless of the huge sums that some hedge funds spend on various knowledge, landmark releases just like the employment report or the consumer-price index (CPI) can nonetheless convulse markets. When the September payrolls numbers, launched on October 4th, blew previous expectations, bond yields jumped by eight foundation factors (0.08 proportion factors). Shares spiked, too, although the transfer was short-lived.
