Financial Markets Daily Report 15 setembre 2022
Investors continued to trade with a cautious approach, still digesting the upside surprise in the US inflation data and taking on board a plan by the EU to intervene energy markets.
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- Investors continued to trade with a cautious approach, still digesting the upside surprise in the US inflation data and taking on board a plan by the EU to intervene energy markets.
- In particular, the EU Commission’s President Ursula von der Leyen said the bloc will raise more than €140bn from windfall taxes on energy companies’ profits, set up a cap in prices and reduce demand. Energy ministers from member states are due to meet on September 30th to discuss the proposals.
- Stocks were mixed while sovereign bond yields were broadly stable. In FX markets, the Japanese yen rebounded after the Bank of Japan conducted a rate check with global banks, in what is often seen as a precursor to intervention. The price of oil Brent rose modestly even after the IEA revised down its demand projections for this year.
- Today, industrial production and retail sales data for August are released in the US.