Macro & Overnight
China continues to roll out stimulus measures. PBoC has reduced its foreign exchange reserve requirement ratio (RRR) by 200 basis points to 4% from 6% to relieve pressure on the Yuan. Other measures include localised easing of restrictions in the residential property market.
US jobs data later today will be keenly watched for clues about the strength of the US economy and the implied trajectory of rates. The market expects non-farm payrolls to increase by 170,000 and for an unemployment rate of 3.5%.
Oil prices are up, with Brent pushing the YTD highs of $87.
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