With the US jobs report in focus, that should make for a quieter session in European morning trade today. The bond market is the key driver of broader sentiment right now but I reckon traders would rather wait on the main event than to keep running with the moves in the past two days - at least for now.In my view, the balance of risks seem rather skewed at the moment. A softer set of readings from the non-farm payrolls later is likely to invite a bigger reaction, pouring fuel to the fire in the rally in bonds this week. That will in turn weigh further on the dollar and drive equities higher.As for a stronger set of employment numbers later, I doubt that it will lead to a turnaround in bonds
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