Public Markets 3 Days

Last updated: July 2, 2026, 2:30 PM ET

Public Markets Briefing

Global Markets & Macroeconomic Trends

Global markets showed mixed performance as investors digested a mixed U.S. jobs report and ongoing geopolitical tensions. U.S. stocks rallied on slower hiring, with the Nasdaq and S&P 500 both advancing, as traders anticipated a potential pause in Federal Reserve rate hikes after June's employment miss. This sentiment was further bolstered by a downward revision in Treasury yields and a subsequent weakening of the dollar as Fed rate-hike bets dimmed. Gold prices climbed sharply following the softer-than-expected jobs data, which eased fears of aggressive monetary tightening. Meanwhile, European stocks edged lower as traders weighed policy signals from the European Central Bank, which indicated a reluctance to rush into further rate increases. Swiss inflation, however, slowed for the first time in eight months, suggesting that falling oil costs were beginning to impact the domestic economy. Japanese government bonds extended their rally, mirroring gains in U.S. Treasurys, as investors priced in the possibility of a September rate cut by the Federal Reserve. In contrast, Japan's super-long bond yields climbed due to fiscal concerns