Wall Street closes firmly to the downside. The 10-year Treasury note slumps to its lowest point for almost 5 months with continued Covid recovery fears weighing heavily. Investors look to safe havens like the Swiss franc and the Japanese yen while gold is set to post its third straight week in the green. The ECB sets out its first strategic policy review in nearly two decades, announcing a 2 per cent inflation target. Airbus enjoys a 52 per cent increase in H1 deliveries and is set to hit its 2021 targets. And in Tokyo, the Olympic flame arrives at an empty stadium as the city announces a state of emergency due to a Covid flare-up and will now ban all spectators from the Games.