Episode 11 of the Seaspray Private Podcast series ‘Making Waves’ – 2025 Q2 Investment Review & Outlook – is now available to watch or listen to on all major social media platforms. In this episode, we share timely investment strategies and insights to help you navigate the current market uncertainty. Click here for further details. Episode 11 of the Seaspray Private Podcast series ‘Making Waves’ – 2025 Q2 Investment Review & Outlook – is now available to watch or listen to on all major social media platforms. In this episode, we share timely investment strategies and insights to help you navigate the current market uncertainty. Click here for further details.
Episode 11 of the Seaspray Private Podcast series ‘Making Waves’ – 2025 Q2 Investment Review & Outlook – is now available to watch or listen to on all major social media platforms. In this episode, we share timely investment strategies and insights to help you navigate the current market uncertainty. Click here for further details. Episode 11 of the Seaspray Private Podcast series ‘Making Waves’ – 2025 Q2 Investment Review & Outlook – is now available to watch or listen to on all major social media platforms. In this episode, we share timely investment strategies and insights to help you navigate the current market uncertainty. Click here for further details.

WEEKLY MARKET REVIEW

Stay Informed with Our Seaspray Private Weekly Financial Market Review

Get the latest insights on global financial markets with our Weekly Market Review. In it we discuss the key financial headlines from the U.S, Europe, UK, Ireland, and Asia-Pacific, along with in-depth analysis of major asset classes, including:

Equities – U.S, Europe, and UK market trends
Bonds – Interest rate movements and fixed-income insights
Commodities – Oil, gold, and other key market drivers

Stay ahead of market trends with our expert insights. Read the latest update now!

Weekly Market Review: 07th July 2025

The Week in Numbers

Equity Markets

Equity IndicesValueWeekly ChangeYTD Change
S&P 5006,279.35+1.91%+6.76%
NASDAQ20,601.10+1.82%+6.68%
EuroStoxx505,288.81-0.68%+8.02%
EuroStoxx600541.13-0.70%+6.60%
FTSE 1008,822.91+0.14%+7.95%
ISEQ11,320.53-0.78%+16.02%

Central Bank Interest Rates

Interest RateCurrent RateDirectionRate Change
FED4.50%0
ECB2.15%0
BOE4.25%0

Government Bonds

Fixed IncomeYieldWeekly ChangeYTD Change
US 10YR4.33+2.08%-8.13%
US 2YR3.87+4.19%-8.56%
German 10YR2.5660+0.51%+9.10%
UK 10YR4.54+1.04%-0.42%
Irish 10YR2.86-1.04%+8.52%

Foreign Exchange Currency Movements

FXValueWeekly ChangeYTD Change
EUR/USD1.177+0.46%+13.73%
EUR/GBP0.8614+0.71%+4.13%
GBP/USD1.3668-0.27%+9.19%

Key Events

  • 09/07/2025 – China Inflation Data
  • 11/07/2025 – UK GDP
There is No Time like the Present!
This week’s Seaspray Private data insight examines the implications of investing at market peaks versus downturns, challenging the common belief that timing the market is critical.

Stay Informed with Our Seaspray Private Weekly Financial Market Review

Get the latest insights on global financial markets with our Weekly Market Review. In it we discuss the key financial headlines from the U.S, Europe, UK, Ireland, and Asia-Pacific, along with in-depth analysis of major asset classes, including:

Equities – U.S, Europe, and UK market trends
Bonds – Interest rate movements and fixed-income insights
Commodities – Oil, gold, and other key market drivers

Stay ahead of market trends with our expert insights. Read the latest update now!

FINANCIAL HEADLINES

United States

In the US, the flagship spending and tax legislation—referred to as the “Big Beautiful Bill”—passed through the Senate and received Congressional approval. The bill had faced opposition from some Republican holdouts, who argued it did not do enough to address the country’s growing debt burden. Others expressed concern over the bill’s cuts to Medicaid. It also includes a rollback of Biden-era clean energy subsidies and tax credits in favour of increased military and border security spending. Finally, the Bill includes a $5tn increase to the US debt ceiling. The US currently allocates $910bn to defence, while Medicare accounts for $1.6tn. If enacted, the bill is projected to add approximately $3.4tn to the national debt over the next decade, with the total debt currently standing at $37tn.

Europe & UK

In Europe, inflation data for the Euro Area was released, with the June rate rising to 2%, up slightly from the 1.9% recorded in May. This brings inflation back in line with the ECB’s target rate of 2% and should reinforce the data-driven approach taken by the ECB in its current rate-cutting cycle. At country level, Germany’s inflation rate eased from 2.1% in May to 2% in June, contrary to market expectations of a rise to 2.2%.

In the UK, the welfare reform bill—championed by Prime Minister Keir Starmer as a means of saving £5bn—was effectively gutted last week following a significant rebellion by Labour backbenchers. Last-minute amendments, prompted by concerns that Labour could lose the vote in the House of Commons, resulted in the removal of the personal independence payment (PIP) component of the bill, which had been expected to generate the majority of the savings. The revised bill, which passed through the Commons, could now cost the Treasury an estimated £300mn in 2029/30. This may force Labour to consider tax increases to compensate for the shortfall.

Ireland

In Ireland, manufacturing activity grew at its fastest pace in three years in June, indicating that the sector remains resilient despite global headwinds. The AIB Ireland Manufacturing Purchasing Manager Index (PMI) rose to 53.7, up from 52.6, with any figure above 50 indicating expansion. The index has remained above 50 for the past six months, signalling half a year’s worth of growth. This improvement was driven by rising employment, as well as increased purchasing and ordering activity. Elsewhere, the amount of money collected in tax receipts in the first half of the year rose almost 7% to €47.7bn compare to the same period last year, reflecting strong economic growth despite concerns about the potential impact of US tariffs.

Asia-Pacific

Trade talks between Japan and the United States stalled last week after the US demanded that Japan import more American-grown rice. Senior Japanese officials have stated they will not jeopardise domestic agriculture to secure tariff exemptions, resulting in the current impasse. Rice production is a sensitive issue in Japan, with current shortages driven by poor harvests and recent policy decisions Prices have more than doubled over the past year, prompting the government to draw from strategic reserves. Japan may have a potential bargaining tool in the form of its $1 trillion holdings in US Treasuries, which could become a factor if a resolution is not reached.

ASSET CLASS REVIEW

Equities

In the US, equity markets rallied during a shortened trading week to reach all-time highs, driven by a combination of strong economic data and newly signed trade agreements. A trade deal was struck with Vietnam, under which tariffs on Vietnamese imports to the US will be reduced to 20%, down from the 46% imposed during Liberation Day. However, in a move potentially detrimental to China, the US maintained tariffs of 40% on trans-shipping—believed to target Chinese re-exports to the US. On the economic front, nonfarm payrolls increased by 147,000 in June, significantly surpassing expectations of 110,000. This strong jobs report is likely to reduce pressure on the Federal Reserve, suggesting that an interest rate cut may now be delayed until at least September. Following the news, the US dollar rebounded, recovering from its worst start to any year since 1973. In corporate news, Oracle shares hit a new record high after the cloud computing company announced a $30 billion contract—more than triple the annual revenue generated by its fastest-growing division. In the 2025 fiscal year, Oracle reported $10.3 billion in cloud revenues. The new contract, with revenue expected to commence in 2028, is therefore highly significant. Oracle’s market capitalisation has grown by 31% so far in 2025, with the company—founded in 1977—now valued at $620 billion. Continuing with the tech sector, Palantir, a standout performer in the ongoing AI boom, announced a partnership with a subsidiary of Dublin-based Accenture to develop commercial-grade AI solutions for US federal agencies, aimed at optimising workflows. Palantir shares rose 4% on the news, bringing the year-to-date gain to a remarkable 76%. Globally, more than half of the world’s equity markets reached new all-time highs over the past fortnight, according to the All Country World Index—the highest level in over a decade. This surge comes nearly three months to the week after President Trump announced his reciprocal tariffs, which initially triggered double-digit drawdowns in major economies. For the week, the S&P 500 and NASDAQ both closed higher, up 1.91% and 1.82%, respectively.

In Europe, markets retreated as tensions grew between the EU and US regarding a potential trade agreement. The prevailing expectation is that a 10% tariff baseline will remain on EU exports to the US, although the bloc is pushing for concessions in key sectors such as semiconductors and pharmaceuticals. However, the US threatened tariffs of 17% on food exports on Friday. The Euro reached its highest level since August 2021 last week, supported by positive EU inflation data. BBVA confirmed its intention to proceed with its proposed €11 billion acquisition of rival Sabadell, despite Spanish regulators insisting the two companies must remain operationally separate for three years before a full merger. In the AI sector, 76 companies have submitted bids to build gigafactories across Europe, reflecting the region’s growing appetite for AI infrastructure. While the EU still trails the US in terms of AI investment and growth, spending is projected to exceed $144 billion by 2028. In the renewables space, Poland’s clean energy usage surpassed coal for the first time in June—a landmark achievement for the EU’s most coal-dependent nation. For the week, the Euro Stoxx 50 and STOXX 600 indices closed lower, falling -0.68% and -0.70%, respectively.

In the UK, the FTSE 100 edged higher during a politically turbulent week in Westminster. Concerns over the gutted Welfare Bill and speculation about Chancellor Rachel Reeves’s position caused the index to decline midweek. However, strong backing from Prime Minister Keir Starmer helped stabilise markets, and the FTSE 100 ultimately closed the week up 0.68%.

Bonds

Global bond yields rose last week, albeit for different reasons across regions. In the US, the 10yr yield jumped to 4.33% on Thursday ahead of the long weekend, following the release of stronger-than-expected nonfarm payroll data. The report indicated continued strength in the US labour market, prompting traders to reassess the outlook for Federal Reserve rate cuts. The unemployment rate also declined to 4.1%, while the US services sector returned to expansionary territory after contracting in May. In the UK, bond markets experienced a volatile week, with yields climbing to 4.54% amid concerns over Chancellor Rachel Reeves’s position following the collapse of the welfare bill. Investors feared that a potential replacement could relax fiscal discipline. However, the sell-off was short-lived after Prime Minister Keir Starmer publicly reaffirmed his support for the Chancellor. The brief decline in bond prices attracted increased buying activity from major institutional investors, including BlackRock, Schroders, and Fidelity International, who bet on swift recovery in UK gilts rather than a prolonged downturn.

Commodities

Crude oil prices edged slightly higher over the week but have remained relatively subdued since the conclusion of the Israeli-Iranian conflict. Notably, Iran ended its cooperation with the UN nuclear watchdog last week, sparking a 3% increase in oil prices. Additional support came from the newly signed US-Vietnam trade agreement, which investors see as a potential gateway to further trade deals—possibly boosting future energy demand. Nonetheless, US crude inventories rose by 3.85 million barrels, the highest increase in three months. For the week, Brent crude settled at $68.28, while WTI closed at $66.45.

In metals, gold prices rose to $3,335 over the week, despite a dip following Thursday’s payroll data release. The strong labour market report reduced expectations of a summer rate cut, which typically weighs on gold prices due to its non-yielding nature.

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