Trading has been thin was US markets closed for the 4th July holiday. As Phil Dobbie discusses with NAB’s David de Garis, there’s been little movement in equities, but bond yields continue to fall. In Germany 10 year Bund yields have fallen below the ECB deposit rate. So just how low will yields go? And how will equities respond to the US earnings season that kicks off in earnest next week. They also discuss the Payrolls data tonight and what it could mean for the Fed.