Forex | Forex | Japanese June industrial production rose 2.4% (31/07/2009 05:41:45)

Japanese June industrial production rose 2.4%

News and views US equities opened 2% higher, and maintained those gains throughout, +1.9% as we write. Solid corporate earnings reports from Motorola, Tyco, and Mastercard, plus improved continuing jobless claims, were attributed as the drivers. WTI oil and copper futures both accelerated higher on the data, up 5.9% and 3.3%, respectively. US 10yr notes, which has lost ground earlier on the improved risk tone, abruptly rallied by 10bp after the better 7yr auction, flattening the 2-10yr by 5bp.


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