The bond market awaits the "verdict" of the non-farm payrolls, with market focus returning to US employment.
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Golden Ten Data reported on March 6 that eurozone government bond yields rose as investors awaited economic data and Middle East tensions showed no signs of easing. Christoph Rieger of Commerzbank stated in a report: "Before the weekend arrives, macro data and statements from central bank officials may distract the market from geopolitical issues, which is not a bad thing." The market is particularly focused on U.S. employment data, viewing it as a key driver for global bond markets. The head of rates and credit research pointed out: "Weaker data could highlight the dilemma facing the Federal Reserve, namely the coexistence of a weakening labor market and rising inflation risks." In addition, European Central Bank Executive Board member Schnabel is scheduled to deliver a speech in New York later that day.
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