WASHINGTON, Oct 5 ― US stocks and oil yesterday posted strong gains for a second straight day while US Treasury yields slid as investors wondered if global efforts by central banks to fight inflation may ease in the future.
There were 1.7 job openings for every unemployed person in August, down from two in July. But layoffs remained low, signs of a still-tight labour market that could keep the Federal Reserve on its aggressive monetary policy tightening path, as Fed officials insist they have more work to do to rein in inflation.
“Quite clearly, today's RBA decision will stoke speculation that other central banks will begin slowing the pace of hikes,” TD Securities analysts said in a note.
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