US labor market gaining momentum, but 'shadow unemployment' still severely high - BNP Paribas

Alexandra Estiot, Senior Economist at BNP Paribas comments on the surprisingly strong US NFP report which showed an increase in hiring of 288K in June, saying that a momentum is definitely building, although the level of underutilization of labor remains high.
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ECB holds monetary policy but remains alert - ING

Carsten Brzeski from ING observes that despite staying on hold in July, the ECB the obviously remains in a state of high alert and even presented a surprise for all ECB watchers.
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