US equities moved higher for the week despite mixed labour market data. Private payroll growth and nonfarm payrolls both came in below expectations, while job openings were stronger than forecast. The softer employment backdrop eased concerns around further policy tightening, supporting lower bond yields and helping equities move higher.

Over in the Eurozone, inflation eased to 2.8% in June, reducing the urgency for further tightening from the European Central Bank. In the UK, official data showed that the UK economy grew by 0.6% in Q1, as expected, with services being the main growth driver. Elsewhere, China’s manufacturing PMI came in at 50.3 in June, as factory activity grew faster than expected due to increased demand for…