an ugly ducking in an ugly flock, page-4

Yes, the US NFP figure certainly is cause for concern (although I am wondering why this doesn't tally with the ADP survey of last week - chance that one of them is way off the mark - we may see a NFP reversal in February perhaps?).

Market now 50/50 on US recession, and over 70% chance now of 50bp cut in US rates at next FOMC meeting. With AUD rates probably going the other direction, it looks like the IR strategy of Centro (now forced upon them) will hurt even more. Makes one wonder what their new strategy will look like....

Kit