kallas: the EU welcomes the framework agreement reached in Washington between Lebanon and Israel, saying it could help de‑escalate tensions, advance the peace process and offer important prospects for restoring Lebanese sovereignty and territorial integrity.

US job growth slowed in June, sending Treasury yields and the dollar lower. The BLS reported nonfarm payrolls +57k in June versus a Wall Street Journal consensus of 115k; May and April payrolls were revised down to 129k (from 172k) and 148k (from 179k). The unemployment rate edged down to 4.2% from 4.3%. Initial jobless claims fell slightly to 215k (from an upwardly revised 216k), below the 220k expected. The dollar index dropped 0.7%. The 10-year Treasury yield fell to 4.461% from 4.505%; the 2-year yield fell to 4.108% from 4.191%. The print runs counter to expectations that Fed tightening would continue to support the dollar.

German Chancellor Merz said he will present proposals to simplify the tax code this autumn.