Global markets await US jobs numbers

The bond market was under pressure on Friday due to strong fears of recession, while global stock markets fluctuated little pending the publication of US employment figures.

In Europe, Paris (+0.07%) and Frankfurt (+0.07%) were almost stable, London gave up 0.20% and Milan gained 0.22% around 07:30 GMT.

The rise in industrial production in June in France, Germany and Spain did not seem to have an impact.

In Asia, Tokyo gained 0.87%, Shanghai 1.19% and Hong Kong took 0.17% in the latest trade.

The Taipei Stock Exchange soared more than 2% on easing fears of a conflict between Taiwan and China, even as Beijing carries out major military exercises around the island, in response to the visit of the Speaker of the US House of Representatives Nancy Pelosi this week.

In the bond market, macroeconomic fears are at their highest. The two-year US debt rate has been higher than the equivalent 10-year rate for several weeks – a rare occurrence and considered a harbinger of a recession. The magnitude of the gap in favor of the two-year rate even reached a record high since 2000 on Thursday.

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