Market Comment | Global concerns lead to all-time low sovereign yields

Encouraging US payrolls data. Nonfarm payrolls data surprised positively in June (by 287K; consensus: 175K; previous: 11K) and manufacturing payrolls also rose by more than expected (by 14K; consensus: -3K; previous: -10K), showing that the US economy is gaining momentum. However, the unemployment rate rose slightly more than expected (to 4.9%MoM; consensus: 4.8%). Additionally, average […]

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