Ever Higher

The US economy's labor strength is driving a market divergence against Europe and shifting focus to upcoming inflation data and a key Trump-Xi summit. Brent crude has spiked to $105.5 due to renewed Middle East tensions.

Key Takeaways

• 1.US labor markets showed unexpected resilience in April with 115k jobs created, far exceeding the 65k consensus, allowing the Fed to refocus on inflation.
• 2.Energy prices and geopolitical risk have spiked, with Brent crude rising 4% to $105.5 after US rejection of Iran's latest response.
• 3.European equity markets are diverging negatively from the US, with major indices like EuroStoxx 50 falling as US indices hit record highs.

Table of Contents

• MARKET LINES
• FX
• Credit
• HIGHLIGHTS
• DAY AHEAD
• MARKET RECAP
• INDUSTRY NEWS
• Banques / Banks
• Immobilier / Real Estate
• Tech & data
• Energy Transition
• RESEARCH HIGHLIGHTS
• RESEARCH LATEST FORECASTS
• RESEARCH EVENTS

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