July 2, 2025
United States:
US Private Payrolls Fall for First Time in Two Years in ADP Data
Employment at US companies fell in June for the first time in more than two years, reflecting a drop in services payrolls that may raise concerns about a more pronounced labor market slowdown.
Private-sector payrolls decreased 33,000 last month after a downwardly revised 29,000 gain in May, according to ADP Research data released Wednesday.
Europe:
ECB’s Rehn Worried About Effects of Lengthy Inflation Undershoot
European Central Bank Governing Council member Olli Rehn is worried that inflation staying below 2% for a lengthy period could shift the price outlook of euro-zone consumers.
The ECB is projecting 18 months of inflation below its goal as US tariffs dent confidence and the 20-nation economy struggles to expand.
Asia:
Japan’s Record Tax Haul Leaves Questions Over Ishiba’s Pledge
Japan’s tax revenues hit a record of around ¥75.2 trillion ($524 billion) in the fiscal year ended March, surpassing government forecasts by ¥1.8 trillion. But the windfall still left questions over how Prime Minister Shigeru Ishiba will fund his cash handouts, a key election pledge.
The total marks a fifth consecutive year of record tax receipts, up from ¥72.1 trillion the previous year and ahead of the earlier estimate of ¥73.4 trillion, the Finance Ministry said Wednesday.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.