Long-term euro area sovereign bond yields barely moved, aside from the Italian 10Y yield, that suffered a change of benchmark. Germany and France preliminary CPI numbers for June showed a cooler-than-expected inflation. US Treasuries rose sharply as job openings for May came in higher than expected, increasing expectations of a second Fed hike this year.
In equity markets, US indices advanced to close their best quarter since 2020, while euro area indices also rose. Currency markets remained broadly stable for a second consecutive session, with the exception of the Japanese yen, that continued to depreciate against all major currencies, and brought the USD/JPY cross further into its highest level in 40 years.