- Macro: Equity markets had a moderately positive day yesterday with the S&P500 +0.58% and the Nasdaq +0.81%, as Jolts job vacancies increased more than expected. Europe also was up marginally by +0.09%, as markets await the next ECB rate decision on Thursday. Economic releases today include final May Composite and Services PMIs from France, Germany, UK, US and the Eurozone. Also, in the US we get MBA Mortgage Applications for W/E May 30th, and ADP Employment Change data for May (+112K est.). At 3pm we get the ISM Services Index which is expected to be 52 vs 51.6 previously. Finally in the evening the Fed’s Beige Book is released. From the central bankers, only Bostic and Cook are scheduled to speak today.
- Stock: We have updates on Bank of Ireland, Paypal, TotalEnergies, Dalata and Ryanair. (Comment attached)
- Debt: Core bond yields were little changed yesterday in spite of US positive job vacancy data and lower EU CPI data.