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This Week In Credit: U.S. Job Market In The Spotlight (Oct. 2, 2023)

There was only one default last week, in what was a better week overall for rating performance. This week, after U.S. Congress narrowly avoided a government shutdown, markets will be focusing on U.S. labor market data (the Job Openings and Labor Turnover Survey on Tuesday and nonfarm payrolls on Friday). Meanwhile, S&P Global Purchasing Managers' Index (PMI) data will be released globally throughout the week. In Asia-Pacific, the Reserve Bank of Australia will make its first monetary policy decision under the new governor on Tuesday, followed by the Reserve Bank of New Zealand on Wednesday, with markets expecting a hold in both cases.