Daily Note 05/07/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

05.07.2024



  • Macro: It was a positive session for equities in Europe yesterday as the EuroStoxx600 made solid gains, with investor sentiment improving after the recent political uncertainty in the bloc. Later today, all eyes will be on the US Nonfarm Payrolls data for June when a read of 190K expected and whilst this is an optically healthy read, the household survey is indicating many of the additional jobs being created are part-time in nature. Additionally, the US unemployment rate is expected to have remained flat at 4% in June.
  • Stock: This morning Shell provided its Q2 update note.
  • Debt: Core bond yields moved modestly higher yesterday.