Moving Markets US jobs surprise lifts yields as European stocks break new ground
Feb 12, 2026
Manuel Villegas, researcher on cloud computing and AI, offers thematic takes on software, hyperscalers and hardware. Roman Canziani, market strategist, gives equity, fixed income and macro commentary. They discuss a strong US jobs print lifting Treasury yields and delaying Fed cuts. They also cover European stocks hitting fresh highs and how AI advances reshape tech winners and defensive hardware plays.
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Earnings Drive European Strength
- European markets hit record highs driven by strong earnings, especially in energy and mining.
- Siemens Energy's profit surge was linked to booming data centre demand boosting investor confidence.
Avoid Panic Over AI In Wealth Management
- Don't overreact to AI tools as an existential threat to wealth managers according to analysts.
- Consider regulatory barriers and client relationships as protective factors that will likely make AI augment advisory roles.
Jobs Surprise Shifts Rate Expectations
- The US jobs beat (130,000) and a lower unemployment rate pushed short-term Treasury yields higher.
- Markets now expect the Fed to delay rate cuts until around July due to resilient labour data.