Australia’s yield curve has inverted for the first time since 2008 after the release of a better than expected employment report for May.
Australia’s May Employment Change 75,900 (expected 15,000; last -4,000) and full employment change 61,700 (last -28,600). May Participation Rate 66.9% (expected 66.7%; last 66.7%) and May Unemployment Rate 3.6% (expected 3.7%; last 3.7%)