Rio Times · Global Economy
The Big Three
A jobs miss became the market’s relief valve US payrolls rose just 57,000 in June against ~115,000 expected, with April-May revised down a combined 74,000 — softening the case for a near-term Fed hike and taking heat off the dollar and emerging markets.
Europe closed at records while Wall Street slept The STOXX 600 hit an intraday high of 652.35 and Germany’s DAX notched an all-time high, both up on the week’s best run since mid-May, as thin US-holiday trading let the dovish jobs read broaden the rally.
Brazil’s real held the line, not bounced The dollar closed little changed near R$5.21 despite the softer US data, still anchored by a 14.25% Selic — steady rather than recovered, with the next Copom call at end-July genuinely split.
