Daily Points

Global bond yields are rising as WTI crude prices surge and BoJ Governor Ueda hints at a possible June rate hike. Markets are also preparing for US Nonfarm payrolls data, which Scotiabank expects to show a moderate 125k gain.

Key Takeaways

• 1.Rising oil prices and hawkish signals from BoJ Governor Ueda are driving global bond yields higher.
• 2.The recent jump in US JOLTS job openings is viewed as weak due to extreme concentration in professional services rather than broad market strength.
• 3.Scotiabank expects a 125k gain in US Nonfarm payrolls for May, noting that the 'birth-death' model will be a significant and potentially noisy driver.

Table of Contents

• KEY POINTS
• US PRE-NONFARM DATA DUMP
• CANADA-US-MEXICO TRADE NEGOTIATIONS—POT CALLING THE KETTLE BLACK
• AUSSIE RATES SHAKE OFF GDP
• CANADIAN PRODUCTIVITY
• CANADIAN VEHICLE SALES CONTINUE TO DECLINE
• NONFARM PREVIEW

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