Wall Street had largely recovered from an earlier swoon following the release of a better than expected reading on the US services sector, with initial comments from economists being rather upbeat. Similarly, long-term US Treasury yields were off their morning highs.
That came as traders prepared for a European Central bank policy meeting, on Thursday, Friday's US non-farm payrolls report and the Chinese Communist Party's four-day conclave, which was slated to start on Saturday.
Quite talked about as well, overnight Goldman Sachs Chief Economist John Hatzius told clients that his "base-case" was now that come March 2014 the US central bank will lower its unemployment rate threshold for a policy rate increase, albeit while at the same time initiating the tapering of its programme of quantitative easing.
However, said change in the unemployment threshold could come sooner. Hence, so too may the start date for QE, Goldman added.
In parallel, front-month West Texas crude futures were continuing to grind lower.
Acting as a backdrop, Boston Federal Reserve Bank President Eric Rosengren on Tuesday morning declared himself dissatisfied with the current pace of jobs growth in the US.
Source: LiveCharts
That came as traders prepared for a European Central bank policy meeting, on Thursday, Friday's US non-farm payrolls report and the Chinese Communist Party's four-day conclave, which was slated to start on Saturday.
Quite talked about as well, overnight Goldman Sachs Chief Economist John Hatzius told clients that his "base-case" was now that come March 2014 the US central bank will lower its unemployment rate threshold for a policy rate increase, albeit while at the same time initiating the tapering of its programme of quantitative easing.
However, said change in the unemployment threshold could come sooner. Hence, so too may the start date for QE, Goldman added.
In parallel, front-month West Texas crude futures were continuing to grind lower.
Acting as a backdrop, Boston Federal Reserve Bank President Eric Rosengren on Tuesday morning declared himself dissatisfied with the current pace of jobs growth in the US.
Source: LiveCharts
