Europe map svg: VISLINK TECHNOLOGIES JOINS SVG EUROPE AS A GOLD SPONSOR

The US labor market saw the best jobs growth of the year in June, but markets are still see a 100% probability of an interest rate cut at the Federal Reserve's next meeting on July 30-31 and these hopes are helping to drive stocks to record highs. “The jobs report is reassuring investors that the domestic economy is solid,” Alec Young, managing director of global markets research at FTSE Russell told MarketWatch. “To find any justification for this cut you have to look globally,” Young added, arguing that slowing global economic growth, combined with unconventional monetary policy in Europe and Japan, have caused global investors to flock to U.S. government bonds, with the U.S. 10-year Treasury (BX:TMUBMUSD10Y) yielding less than the target federal funds rate of between 2.25% and 2.5%, since May.

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