July rate cut off the table after strong US jobs report

US jobs growth surged in May and wages accelerated, prompting traders to push back the expected timing of US Federal Reserve interest rate cuts. US Treasuries sold off, pushing yields higher on Friday. And while equity markets in Europe ended the day lower, US stocks initially fell but largely pared losses to end the day just slightly in the red. Markus Wachter from our Technical Analysis team talks about the technical setup for the S&P 500 and Dax indices, and why he expects US Treasury yields to fall.

00:00 Introduction by Helen Freer (Investment Writing)

00:21 Markets wrap-up by Jan Bopp (Investment Writing)

06:03 Technical Analysis update by Markus Wachter (Technical Analysis Research)

08:40 Closing remarks by Helen Freer (Investment Writing)

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