• London Session: Drifting into payrolls…

    The markets are fairly stable as we wait for the latest payrolls report from the US. Stocks have been fairly flat, and are down just a touch midway through the European session. Within the next 30 minutes we will find out how many jobs the US created last month. In the midst of the European sovereign debt crisis it is easy to forget that the flagging US economic recovery is the other major issue that is weighing on risk appetite right now.