JPMorgan Chase believes that an ideal range for the upcoming US non-farm payrolls report would be between 30,000 and 70,000 new jobs. The bank noted that stronger hiring data could push bond yields higher and depress equities by stimulating spending and inflation, while a significant miss could reignite stagflation concerns. Ahead of the Federal Reserve's September 16 meeting, JPMorgan Chase believes the upcoming CPI report will have a greater impact on markets than the employment report.