10 Jul Odilia Business Advisors – Morning Report
Odilia Business Advisors
10 July 2017
Asian stocks rallied on Monday, lifted by Wall Street’s strong performance late last week, while the U.S. dollar extended gains made after much stronger than expected June employment data.
On Friday, Wall Street closed higher after U.S. jobs growth beat forecasts. However, a lag in wage increases led investors to bet wage data would limit the extent of the Federal Reserve’s hawkishness. Strong headline growth, amid poor wage growth, is seemingly a perfect storm for equities
The 10-year U.S. Treasury yield hit a two-month high of 2.398 percent on Friday. The dollar index, which climbed 0.2 percent on Friday, was little changed at 96.01 on Monday.
The People’s Bank of China (PBOC) set the Yuan reference rate at 6.7964 vs. Friday’s fix of 6.7914
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