Following the release of the employment report, the US 10-year Treasury yield broke through the psychological 4% threshold. The release of the "hawkish" FOMC minutes, solid economic data reflecting the strength of the US economy and a technical break triggered by the breach of the 3.8% level on a weekly basis also contributed to the rise in the 10-year over the past week.

The spread between the S&P 500 dividend yield and the 2-year U.S. Treasury yield has not been this negative for over a decade, a sign of the high valuation of U.S. equities relative to bonds.

The one-month correlation between US 10-year bond yields and the S&P 500 returned to negative territory for the first time in three months. More than a year after central bankers began their monetary tightening campaign, fund managers were caught off guard by the latest signs that the world's largest economy is still firing on all cylinders. At the end of the week, equities and bonds once again fell in tandem, as they did during the 2022 bear market.

Swiss inflation has slowed to below the Swiss National Bank’s 2% ceiling targeted . Consumer prices rose by 1.7% year-on-year in June, compared with 2.2% the previous month, due to lower energy costs. Core inflation, which excludes these volatile elements, also slowed to 1.8%, according to the Swiss statistical agency.

The 500 richest people in the world saw their wealth increase by $852 billion in the first half of 2023. Over the past 6 months, members of the "Bloomberg Billionaires" index have seen their wealth increase by $14 million a day, according to data compiled by Bloomberg. This is the best half-year for billionaires since the end of 2020. Elon Musk tops the ranking ahead of Mark Zuckerberg. The two billionaires are expected to meet in the ring soon.

NVIDIA's market capitalization is equivalent to the combined market capitalization of two TSMCs. And it's also seven times larger than Intel's.