Markets are attempting to make a bit of a recovery in risk following Friday's NFP.
However, it seems like markets have a lot to digest right now, and even though the data should have been enough to convince markets that 50bp cuts are not necessary (in my opinion at least), money markets are sticking to their guns with 111bp of cuts still priced in by year-end.
FX: in the FX space we are seeing the AUD and CAD lead the pack on the upside while safe haven JPY and CHF is the laggards (suggesting risk on)
Equities: most equity futures are trading in the green as the new week gets underway (apart from the Hang Seng and CN50 which is trading in the red).
Bonds: have done very little so far but marginal downside in bonds (upside in yields) so far.
Commodities: most commodities are trading in the green apart from gold, with a decent pop higher in copper (+1.3%).
