• Union Bancaire Privee flagged a risk-supportive backdrop as cooling US jobs growth and easing eurozone inflation strengthen the case for a prolonged Fed-ECB pause.
• Global equities gained; MSCI ACWI +2%, STOXX Europe 600 +2.7%, S&P 500 +1.8%, with leadership rotating from tech into European cyclicals.
• Semiconductors stayed volatile; global semiconductor equities fell 2.5%, with profit-taking in memory-chip makers despite intact fundamentals.
• Developed curves steepened; US 10-year yield rose 11 bps to 4.48%, Bund 10-year up 8 bps to 2.94%, as long-end yields led.
• Credit rewarded carry; IG issuance hit a June record of USD 200 billion, lifting first-half supply to a record USD 1.2 trillion.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Union Bancaire Privee UBP SA published the original content used to generate this news brief on July 06, 2026, and is solely responsible for the information contained therein.