Financial Markets Daily Report05 July 2021
Investors ended the week on a positive note, following the release of solid labour market data in the US: non-farm payrolls rose by 850K in June while the unemployment rate remained broadly stable at 5.9%. As a result, equity indices rose in both sides of the Atlantic, reaching new records in the US.
- Investors ended the week on a positive note, following the release of solid labour market data in the US: non-farm payrolls rose by 850K in June while the unemployment rate remained broadly stable at 5.9%. As a result, equity indices rose in both sides of the Atlantic, reaching new records in the US.
- In bond markets, sovereign yields fell in the US (near the 1.4% level for the 10-year benchmark) and in Europe, following comments by ECB President Christine Lagarde about the need to keep emergency bond purchases in place. In commodities, the oil price rose modestly after the OPEC+ decided to delay a meeting (to be held today).
- The key data releases this week feature the June’s PMI (Monday) and ISM (Tuesday) surveys for services, industrial orders (Tuesday) and industrial production (Wednesday) for May in Germany, and CPI and PPI data for June in China (Friday). In addition, the Fed (Wednesday) and the ECB (Thursday) will publish the minutes of their June meetings.