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US payrolls rose 273,000 in both January and February which represents the best two-month increase in two years. Nonetheless, markets are unlikely to take a breathe amid coronavirus concerns, Josh Nye from RBC Economics apprises.

Key quotes

“The US labour market was on solid footing through the first two months of the year with back-to-back payroll gains of 273,000.” 

“This morning’s numbers will do little to soothe financial markets amid growing worries about the economic impact of coronavirus.” 

“While today’s payroll numbers are impressive, this data is already well past its sell-by date.”