Interest‑rate strategist Ira Jersey said June nonfarm payrolls were weaker than expected and prior months were revised lower, triggering a bull‑steepening of the U.S. Treasury yield curve. He said the move is consistent with a reduced near‑term probability of Fed rate hikes. The TIPS curve should also bull‑steepen as real yields adjust to markets pricing a near‑term slowdown in growth.

福特汽车(F.N)在公布美国第二季度销售数据后上涨2%。

Chancellor Merz on Thursday unveiled a 34-point package of pension, tax and labour reforms, aiming for parliamentary approval of the main elements by year-end. On pensions, the plan implements recommendations to add capital-market-based elements to the state pension system and to gradually raise the retirement age over the coming decades. Tax changes raise allowances and ease progressivity for middle incomes; two-child working families would receive more than €600 (about $685) in annual income-tax relief. The measures are projected to cut household tax burdens by roughly €10bn a year and would be partly financed by lifting the top marginal rate from 45% to 47% on annual taxable income above €280,000. Industrial and technology support will target autos, chemicals and pharma, cleantech, machinery, batteries, semiconductors and AI, and the Germany Fund investment framework will be expanded into a strategic vehicle focused on resilience, energy and raw materials.