Bloomberg Daybreak: Asia Edition Weak US Jobs Data Fuels Fed Cut Bets
Sep 4, 2025
Audrey Goh, Head of Asset Allocation at Standard Chartered Wealth Management Group, shares her expertise on market trends in light of recent weak U.S. job numbers. The discussion highlights a rally in Asian equities and the potential for Federal Reserve rate cuts, which has stirred investor interest. Goh emphasizes strategic investment timing, particularly in response to yield curve changes and regional performance. She also touches on emerging risks like trade tensions and inflation, encouraging gold as a vital diversifier in uncertain markets.
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US Jobs Softening Lowers Long Yields
- JOLTS data show job vacancies fell to a 10-month low and the vacancy-to-unemployment ratio dropped below one.
- Audrey Goh says this softening supports lower long-end U.S. yields over the medium term.
Dollar To Weaken As Fed Cuts Begin
- Standard Chartered expects mild near-term dollar strength but a weaker dollar over 6–12 months as the Fed cuts rates.
- Audrey Goh predicts 2–3 Fed cuts in the next 12 months, biasing the dollar weaker long term.
BOJ Likely To Gradually Normalize Policy
- Japan faces sticky inflation above 3% and rising wages, which argues for gradual monetary normalisation.
- Audrey Goh expects the Bank of Japan to stay on hold in September but likely hike once or twice over the next year.