Financial Markets Go Risk‑On as First U.S. Labor Market Data Loom
Financial markets are in full risk-on mode, awaiting data on U.S. job openings and monitoring progress on the tariff front. Both equities and bonds continue to trend upward.
There is still very little to report in our intermarket dashboards. The situation remains risk-on, with the upward trend in stocks and bonds pushing the correlation between the two assets to its highest level since February, while the correlation between equities and commodities hits a one-year low.
On the macroeconomic front, the series of data on the U.S. labor market begins. Today it’s the turn of job openings for the month of May. Also of interest are the Eurozone inflation data for June, the June ISM manufacturing index, and the final results of the June PMI surveys.
Our forward-looking analyses continue to indicate a positive outlook for U.S. equities, while the technical situation appears weaker in Europe. Bond yields are still expected to decline, and corporate bonds remain positively positioned. Volatility is expected to stay stable or decline further.
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NOTES AND WARNINGS
Data compiled by kbmeter.com. Analysis date: 1 July 2025 - 7:18 AM GMT+1
This content is provided for informational purposes only and should not be considered financial advice. All scores and assessments are based on the previous trading day’s closing prices. Futures indications refer to the date and time of the analysis.
