US jobs growth was much stronger than expected, which lifted US Treasury yields 12-20 bps and shunted the US dollar 0.5% higher. Economists also now see a 50 basis point cut by the Reserve Bank of New Zealand on Wednesday In our bonus Deep Dive interview, ANZ’s Head of Australian Economics Adam Boyton reveals what a surprising rise in workforce participation means for interest rates. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/