Despite a lacklustre Wall Street reception, US payrolls data shows global growth is on the rebound. With this in mind, a rate cut tomorrow would be a fiasco.

The fact US payrolls were stronger than expected didn’t seem to spark much excitement from Wall Street on Friday night. US stocks were all weaker, around the 1 per cent mark (although European stocks rose between 0.1 per cent and 0.6 per cent) and commodities were belted – with crude and gold both down over 2 per cent to $84.79 and $1678 respectively.


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