US stocks closed mostly higher on Tuesday following a strong print in ADP payroll numbers; the June print came at 692,000 against an expected 600,000. The S&P rose 0.13%, inking another record, recording a strong H1 performance while the DOW rose 0.61%. The NASDAQ was however 0.17% lower. Yield on 10Y USTs closed flat at 1.468%.

The DAX opened higher even as German retail sales missed expectations. Month sales for May grew 4.2% against an expected 5.0% while on an annual basis they contracted 2.4%. The euro was little changed from yesterday’s close while yields on 10Y DBRs was higher.

Asian markets were mostly in the red on Thursday with upbeat PMI figures held back by continued flares in the COVID Delta variant infections. Japanese and Australian manufacturing PMI figures topped expectation but failed to lift the ASX and NIKKEI which closed lower at 0.65% and 0.29% respectively. The CSI managed to eke out a 0.11% gain even as the Caixin manufacturing PMI for June came at 51.3 against a 51.8 forecast.

Russia’s economy grew 10.9% YoY in May up from April’s revised 10.8% as the rebound from the pandemic continues. The figures come on the heels of another strong showing in employment figures with unemployment having fallen to 4.9% from a previous 5.4% with real wages also growing 7.8%. The ruble opened firmer while RUSSIA 30s were little changed.

Oil prices edged higher on Thursday supported by lower U.S. inventories ahead of OPEC+’s decision over the output policy for August and beyond. The group had decided to add back 2 million barrels per day for the period May to July and analysts expect a further increase. OPEC Secretary General Mohammad Barkindo’s remarks that demand during the second half of the year will be 5 million barrels higher per day adding to the bullishness.