Multi-Asset Strategy Daily

Mizuho's daily strategy note highlights a market pivot toward labor resilience in the US, driving higher yield expectations despite soft consumer sentiment. Meanwhile, European and UK bond markets show continued sensitivity to fiscal and inflationary pressures ahead of central bank appearances.

Key Takeaways

• 1.USTs cheapened as the market focused on resilient labour data (JOLTS) over soft consumer confidence, shifting expectations toward further rate hikes.
• 2.EGBs and Gilts struggled to build on early rallies, with bond yields finding near-term technical support while markets remain sensitive to upcoming central bank communications.

Table of Contents

• USD
• EUR
• GBP
• JPY
• Important Information

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