Roundup of overnight activity and today's economic highlights.

Last Updated:

3rd July 2009

Treasuries Rise on Weak Jobs Data

Overnight Developments

US Treasuries ended the day higher on Thursday as fresh economic data reinforced the pessimistic view of the economy. The latest jobless figures came in higher than expected and drove equities down to the advantage of bonds. Elsewhere, geopolitical concerns also boosted the allure of government debt following news that North Korea had test-fired short range missiles. However, the extent of the gains, especially at the long end, was crimped by next week' supply schedule which totals $73bn.

Today's Key Events

A comparatively quiet day in prospect with the US markets closed for the Independence Day holiday. In the UK, the latest CIPS survey of the service sector is expected to show a further strengthening in optimism in this key area of the economy, albeit of modest proportions

Forthcoming - Key Events

Policy meetings - ECB 6 August, MPC 8/9 July, FOMC 23/24 June, Quarterly Inflation Report 12 August.