BofA data show investors are pulling money from U.S. equities at the fastest pace since March; for the week ended July 1, U.S. equity funds posted net outflows of $17.2bn, the first weekly net withdrawal in three months.

CNN reports the U.S. plans to tighten workplace immigration enforcement.

Analyst Jersey said today's nonfarm payrolls make a Fed rate hike harder to implement. While markets still price the Fed's next move as a hike, the report highlights that a rate increase could threaten the employment side of the Fed's dual mandate. Although Walsh sought to downplay the employment mandate, Jersey expects an FOMC majority will worry a hike could hurt jobs; absent inflation sustainably above 3% and expected to remain there, they will hold the policy rate unchanged until a clear trend shift.