ROYAL BANK OF CANADA: US unemployment rate rising to 4.2% will exacerbate negative sentiment
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On Thursday, two reports from the United States highlighted signs of economic weakness. This led to a sell-off in the market, with the yield on the 10-year US Treasury falling to its lowest level since February. Another concern for investors is that if the July non-farm payroll report shows an increase in the unemployment rate to 4.2%, it may trigger the "Sam Rule". Blake Gwinn, Capital Markets US Interest Rate Strategist at Royal Bank of Canada, warned that such an event could exacerbate negative sentiment, leading to the market quickly digesting the increased possibility of a hard landing for the US economy
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