• Wall Street equities closed mixed on June 21, with the DJIA rose by +0.04%, the S&P 500 slipped by -0.16% and the Nasdaq closed down by -0.18%.
• US stocks indexes on Friday closed mostly lower despite the Dow hitting a 4-week high. Weakness in chip stocks, with Broadcom down 4% and Nvidia down 3%, weighed on the market. Concerns over the Eurozone economy also dampened sentiment after the June S&P manufacturing PMI unexpectedly dropped to a 6-month low.
• The 10-yr UST yields were unchanged at 4.25%, with the 2-yr yields remained flat at 4.70%. T-notes on Friday reversed early gains and moved lower after the unexpected increase in the US June S&P manufacturing and services PMIs, with yields ending the day flat.
• The US June S&P manufacturing PMI unexpectedly rose by +0.4 to 51.7, beating expectations of a decline to 51.0. Additionally, the June S&P services PMI unexpectedly increased by +0.3 to a 2-year high of 55.1, surpassing expectations of a drop to 54.0.
• US May existing home sales eased 0.7% MoM to a seasonally adjusted annual rate of 4.11 million units. This marks a four-month low in sales but beat expectations of 4.10 million.
• The Eurozone June S&P manufacturing PMI unexpectedly dropped by -1.7 to a 6-month low of 45.6, below expectations of a rise to 47.9. Additionally, the June S&P composite PMI unexpectedly fell by -1.4 to 50.8, weaker than the anticipated increase to 52.5.
• Global bond yields were mixed on Friday: the 10-yr German bund yield fell by -2.0 bps to 2.41%, the 10-yr UK gilt yield increased by +2.5 bps to 4.08%, and the Japanese 10-yr JGB yield closed up by +1.8 bps to 0.98%.
