Unemployment remains near all-time lows as the economy maintains a slow pace of growth amid significant uncertainty. So, despite a small uptick in the unemployment rate, the labour market mainly shows resilience
US rates are finding bullish signals in second-tier data as the US government shutdown continues. The second-largest Dutch pension fund is showing confidence about its transition date of 1 January 2026, which should help support the 10s30s steepening. Approval from the regulator, however, has not been explicitly communicated yet
Falling unemployment suggests that the eurozone economy remains resilient in the face of global uncertainty. Modest economic growth seems realistic for the coming quarters, as the strong labour market should aid some domestic recovery
