Scoreboard: Confidence yardstick

After a serious injection of US courage from jobs data, Australia's set to see the new government's effect on local business mettle.

The continuing strength in the US labour force saw a fairly hefty rise in bond yields Friday night. We’re talking 20 bps to 2.74 per cent, which is the highest yield in about two years. That’s a big jump but completely understandable given the employment numbers – 195,000 jobs created in June following an increase of the same in May and an increase of about 200,000 in April. You get the gist – this is serious jobs growth.

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