Macro & Rates: US nonfarm payrolls surged to 162,000 in August while unemployment held at 4.1%, pushing Treasury yields higher and reviving Fed hike odds for mid-September; markets also look ahead to next week’s CPI as the key swing factor. Energy & Inflation: Oil slipped on Friday but stayed on track for a weekly gain after renewed US-Iran exchanges; diesel hit a record high, keeping inflation and borrowing-cost worries front and center. Oil Forecasts: US Treasury Secretary Scott Bessent said oil could drop to $40–50 after the Iran war ends, while Citi lifted its near-term Brent view to $86 on Hormuz closure risk. Metals: Gold and silver fell after the jobs shock, reversing earlier gains tied to softer yields and a weaker dollar. Housing & Real Assets: Melbourne’s spring auctions start with fewer listings (632, down 40% YoY), while some streets see multiple auctions close together—signaling a buyer-leaning market. Corporate Moves: Lululemon shares plunged after a guidance cut tied to weaker demand in the Americas; Campbell’s announced a 13% salaried workforce reduction and plant closures as it turns around. Tech & Markets: Nvidia’s latest results reinforced AI demand strength, while IonQ’s investor day is expected to extend revenue guidance beyond 2026. Logistics & Trade: China port congestion worsened with typhoons and Middle East disruptions, with vessel waits reported up to 10 days.