Caroline Hepker

You just see the cat car, the outperformer up by four tenths of 1% this morning.

I'm Caroline Hepka, and this is Bloomberg.

The European Union is ramping up efforts to counter its growing trade imbalance with China, which now exceeds a billion euros a day.

Bloomberg's Freddie Fullstone has more.

The UK's jobs market is holding up better than expected, according to the latest official data.

The number of employees on payrolls rose by 2,000 in May, while unemployment slipped to 4.9% in the three months to April.

The labour market data follows a weaker-than-expected inflation reading yesterday, and it comes ahead of today's Bank of England policy decision.

Policymakers are widely expected, though, to leave interest rates unchanged at 3.75%.

UK voters in the constituency of Makerfield in England go to the polls later today.

The race is one of three parliamentary special elections taking place in the UK.

The other two by-elections are in the Scottish seats of Aberdeen South and Arbroathen Brotty Ferry.

So, in terms of bond markets, actually, we're adding to expectations.

Traders are adding to expectations of interest rate hikes, both on Bank of England and the ECB.

38 basis points for the ECB by the end of the year.

And so I think that's kind of noteworthy.

As you see, yields across Europe, they're mixed.

Germany is at 292, a fairly flat.

US yields, though, are unwinding some of the big push high that we saw yesterday, 444 for 10-year yields, dropping four and a half basis points.

And you also see two-year treasury yields retreating.

European stocks, though, at the open are down a tenth of 1%, 5,100 shares also down by seven tenths of 1% this morning.