- Macro: Equity markets had a broadly negative day yesterday with the S&P500 -0.40% and the Nasdaq +0.18%, as tame inflation data failed to ease investor worries about the impact of tariffs. Europe was down -0.37%. Economic releases today include US MBA Mortgage Applications at 12:00, US June PPI at 13:30, and US June Industrial Production at 14:15. The Fed’s Beige Book will be released at 19:00. Irish Property Prices will be at 11:00. From the central bankers, we will hear from the Fed’s Barkin, Bostic, Hammack, Williams and Barr.
- Stock: We have an update on Rio Tinto. (see page 2)
- Debt: US Treasuries rose despite a slightly better than expected US core CPI release. European yields were mixed with core German yields declining despite positive ZEW Survey data for June.