Breakfast Briefing | 2 July 2026 | US Yields Climb Ahead of Payrolls

Markets are sceptical of the rosy outlook from America's new central bank chief. US Treasury yields rose after the Fed signalled price risks had eased, a clear sign of where investors think rates and inflation are really headed.Today's key moves:● US 10 year Treasury yield up to 4.48% after the Federal Reserve's dovish comments● ADP jobs survey soft at +98,000, ahead of Friday's non-farm payrolls print● The US will not renew the USMCA trade agreement with Canada and Mexico● China factory activity caps its strongest quarter since 2020● Australian building approvals up 5.3% year on year, though home values fell 0.4% in June, a third straight monthly decline● AUD 69 USc, Gold USD 4,070/oz, Bitcoin USD 60,115 (+3.1%)With Friday's US payrolls report in focus, the labour market data will set the tone for the rate outlook into the second half of the year.Full report with source links: https://www.interest.com.au/economy/746/eyes-us-non-farm-payrolls-us-crude-stocks-fall-again-reserves-43-year-low-usmca-not#BreakfastBriefing #RBA #InterestRates #AustralianEconomy #interestcomau #FederalReserve #NonFarmPayrolls #BondYields #HousingMarket #Bitcoin