July 2, 2026

In the United States, unemployment was 4.2% in June

International

This morning, the US jobs report for June was released. Job creation came in at +57,000, compared to the +114,000 expected by analysts and the +129,000 in May (revised from +175,000). The unemployment rate, meanwhile, was 4.2%, below the 4.3% estimated by analysts and the 4.3% reported in May. In the Eurozone, the unemployment rate for May was also released, coming in at 6.2%, below the 6.3% expected by analysts and unchanged from the previous month (revised from 6.3%).

Against this backdrop, the main US stock indices closed mostly lower yesterday. The S&P 500 fell 0.2%, while the Nasdaq declined 0.7%, and the Dow Jones remained virtually unchanged. Year-to-date, the indexes have gained 9.3%, 12.0%, and 8.8%, respectively.

Meanwhile, the yield curve for U.S. Treasury bonds broadened slightly yesterday. The 1-year Treasury yield remained virtually unchanged at 3.97%, while the 3-year yield rose from 4.18% to 4.19%. Finally, the 10-year yield increased from 4.47% to 4.48%.

80%