Analysts at ANZ Bank New Zealand Limited offered their market wrap for Friday’s close.
Key Quotes:
“The euro was firmer following the better German industrial production data for May in what were quiet post July 4 holiday markets.”
“Financial markets did not respond adversely to the imposition of tariffs and retaliatory measures between China and the US whilst the solid US June labour market report was non-inflationary and hence positive for bonds and stocks.”
“The S&P 500 finished 0.8% higher, while European bourses saw more modest gains (DAX +0.3%).”
“The absence of acceleration in US wage growth and rise in the participation rate helped to support US fixed income, which finished marginally firmer. The yield on the US 10-year note eased 0.7bps to 2.82%. WTI lifted 1.2% to $73.80/bbl, while gold dipped 0.2% to $1255/oz.”
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