May 5, 2026

In the Eurozone, the manufacturing PMI stood at 52.2 points in April

International

In the Eurozone, the Purchasing Managers' Index (PMI) for April was released yesterday, coming in at 52.2 points, in line with analysts' consensus forecasts. This reading indicates an expansion in activity compared to the previous month, as it is above 50 points.

Major US stock indices declined yesterday. Today, the focus will be on the JOLTS employment survey, which reports the number of jobs in March, projected at 6.87 million. Against this backdrop, the S&P 500 fell 0.4% yesterday, while the Nasdaq dropped 0.2%, and the Dow Jones declined 1.1%. Year-to-date, they have accumulated gains of 5.2%, 7.9%, and 1.8%, respectively.

On the geopolitical front, US President Donald Trump announced yesterday the launch of Operation Freedom, aimed at allowing ships to once again pass through the Strait of Hormuz. The United States subsequently reported that two vessels had successfully transited the strait, although Iran denied this, emphasizing that the blockade remains in place. Meanwhile, an Iranian drone attack yesterday struck a major oil port in the United Arab Emirates.

Finally, US Treasury yields widened again on Monday. The 1-year Treasury yield rose from 3.70% to 3.75%, while the 3-year yield climbed from 3.90% to 3.97%. The 10-year Treasury yield closed at 4.44%, up from 4.37% previously.

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