Daily Report

8 de Julho de 2024
Financial Markets | daily report 08.07.2024
  • Investors ended the week focused on the US employment report for June, which signaled the labor market is cooling as job creation slowed and the unemployment rate ticked up from 4.0% to 4.1%. This boosted expectations for two rate cuts this year, which sent Treasury yields lower and stocks higher, with the Nasdaq and S&P 500 hitting new record highs.
  • Euro area sovereign bond yields saw some contagion from the US and ended the session lower. Equities were mostly down ahead of the second round of the French legislative elections this weekend, where the left-wing alliance and the centrists came ahead of the far-right RN. The country now faces a deadlock as no party has an outright majority.
  • Elsewhere, in currency markets, the dollar slightly weakened against its main peers, leaving its cross with the euro around $1,08 and with the yen at 160JPY. This week's main economic event is the release of US inflation data for June.