Briefings
Week InReview: July 4, 2025
- By: admin
- On: 07/04/2025 11:07:21
- In: Week InReview
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Euro-area and US equity futures fell, with Asian stocks ahead of the US holiday.
The US House passed a $3.4 trillion fiscal package that cuts taxes and curtails spending on safety-net programs.
Treasuries tumbled and the dollar rose as stronger-than-forecast employment growth soothed concern the US economy is poised to slow, stanching speculation the Federal Reserve will need to cut interest rates any time soon. Stocks hit fresh record highs.
Hong Kong's de-facto central bank bought the city's dollar to defend its foreign-exchange peg, as two previous rounds of intervention failed to send funding costs high enough to dampen bearish currency bets.
The Chinese government intends to cancel part of a summit with European Union leaders planned for later this month, in the latest sign of the tensions between Brussels and Beijing. The US is reaching out to business executives to weigh interest in accompanying him on a possible trip to China. |
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