Actually it wasn't just LTR or Shorter IMO - whole ASX fell due to this:
https://www.copyright link/markets/equity-markets/asx-to-rise-s-and-p-500-resets-record-high-20240321-p5fe2t
Everything is bouncing back already.Jobless rate falls to 3.7 per cent in February; $A jumps
The number:Australian employment increased by 116,500 in February, following an increase of just 500 jobs the previous month, seasonally adjusted. The unemployment fell to 3.7 per cent.
Consensus was for 40,000 jobs created and unemployment ticking down to 4 per cent.
Why it matters:The labour market is still too strong to bring inflation back to the Reserve Bank’s inflation target.
What has changed:Inflation is slowing, but services is proving sticky and the Reserve Bank this week said it was on the right track to bring inflation back to target next year.
What next:The next piece of the inflation puzzle is monthly CPI on March 27 and retail sales the following day.
Actually it wasn't just LTR or Shorter IMO - whole ASX fell due...
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