Policy

3 July 2026
RBNZ holds MPC at six before election as July rate decision looms after deadlock

RBNZ keeps MPC at six ahead of election; July decision uncertain as hawks push hikes, NZD volatility.

3 July 2026
ECB Weighs Higher Minimum Reserves, Testing Eurozone Liquidity and Nudging Euribor-OIS Spreads Wider

ECB may raise minimum reserves, shifting balances to non‑remunerated accounts, tightening liquidity and widening Euribor‑€STR spreads.

3 July 2026
Daly Sees US Resilience as Fed Stays Cautious, Citing AI Boost and Easing Oil Pressures

Mary Daly sees resilient US economy; policy slightly restrictive, inflation easing; AI may boost productivity; volatility ahead.

3 July 2026
US jobless claims fall to 215,000, boosting Fed tightening bets and lifting short-dated Treasury yields

Jobless claims fell to 215,000, boosting Fed hike odds and prompting volatility hedges amid higher-rate expectations.

2 July 2026
US payrolls miss boosts rate-cut bets, lifts volatility and shifts positioning in equities, bonds and dollar

June payrolls rose 57,000, missing forecasts, boosting rate-cut odds; equities buoyed, but recession/volatility risks rise.

2 July 2026
US wage growth holds at 3.5% in June, underpinning Fed rate-hold expectations and market calm

June US hourly earnings rose 3.5% year-on-year, steadying Fed outlook, supporting soft-landing trades and dollar strength.

2 July 2026
Spain five-year bond auction yield slips to 2.835% as ECB rate-cut bets underpin demand

Spain’s five-year bond auction yield fell to 2.835%, signaling stronger demand and easing funding costs.

2 July 2026
Spain’s 10-Year Bond Yield Edges Higher at Auction as Eurozone Inflation Keeps Rate Outlook Restrictive

Spain’s 10-year bond auction yield edged up to 3.395%, signaling mildly higher borrowing costs amid persistent Eurozone inflation.

2 July 2026
US equity futures edge lower as investors brace for June payrolls and reassess tech-led rally

U.S. equity futures dip ahead of June jobs report; weak data fuels caution, volatility buys, tech hedges.

2 July 2026
India’s June Manufacturing PMI Revised Lower, Reinforcing RBI Hold as USD/INR Hovers Near 95.25

India’s June manufacturing PMI slowed to 54.2, easing inflation pressures; RBI likely holds rates, USD/INR range-bound.

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