Overview

• U.S. payrolls rose by about 22,000 in August, far below expectations, signaling a softer labor market and reinforcing prospects for easier policy.
• Futures pricing points to a near-certain 25 bp Fed cut with a small chance of 50 bp, pushing Treasury yields to multi‑month lows and keeping gold near record highs.
• Asian equities advanced as the dollar softened; the yen fell and the Nikkei gained after Japan’s Prime Minister Shigeru Ishiba resigned, adding policy uncertainty.
• GIFT Nifty indicated a higher open for India after last week’s Sensex and Nifty gains, though persistent FII outflows and Bank Nifty underperformance remain drags.
• Key catalysts in focus include India’s CPI on Sept. 12 and the U.S. PPI/CPI and jobless claims ahead of the Fed’s Sept. 16–17 policy decision.