- Bond prices fell as a result of disappointing services industry data from China, which renewed fears about the outlook for the global economy. American equity futures and European stocks fell alongside Asian shares.
- When trading resumes after the Fourth of July holiday, contracts on the S&P 500 and Nasdaq 100 both declined more than 0.5%, indicating US equities may open lower. The yield on two-year Treasuries that are subject to policy changes decreased by around five basis points to 4.89%.
- Concern over China's declining demand for minerals caused the Stoxx Europe 600 Index to decline by around 0.6%, with miners taking the lead in the decline. After a composite purchasing managers' index for the region denominated in common currency was revised downward, the indicator continued to drop. Germany's 10-year yield decreased four basis points to 2.41% as European bonds rose.
- After a fantastic surge in the first half, primarily fueled by mega-cap tech firms, the newest indications of slowing economic growth throughout the world is depressing demand for stocks. The Fed and the ECB, two significant central banks, are still tightening financial conditions and putting the breaks on economic expansion.
- Citi cuts Euro Area 2023 real GDP growth forecast down by 0.3 percentage points to 0.8%.
- UK investors put £503 mln into money market funds in June, the second highest on record - Calastone.
- ECB: Consumers see inflation at 3.9% over next year vs 4.1%.
- Saudi Energy Minister Abdulaziz tells conference OPEC+ will do whatever necessary to support market - source.
