Financial Markets Daily Report 19 octubre 2022
In yesterday's session, investors continued to trade with an upbeat tone amid better-than-expected corporate profits releases and macroeconomic data. In particular, the US industrial production in September rose by 0.4% m/m and the Zew survey expectations index for Germany and the euro area edged up modestly in October.
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- In yesterday's session, investors continued to trade with an upbeat tone amid better-than-expected corporate profits releases and macroeconomic data. In particular, the US industrial production in September rose by 0.4% m/m and the Zew survey expectations index for Germany and the euro area edged up modestly in October.
- On monetary policy, the Bank of England confirmed yesterday that on November 1st it would initiate the quantitative tightening by selling its sovereign bonds. In the euro area, several ECB Governing Council members pointed at further interest rate hikes in the coming meetings to fight elevated inflation.
- In this context, stock indices rose modestly across the board. In fixed-income markets, yields on euro area sovereign bonds ticked slightly up while remaining broadly flat in the US. In commodity markets, European natural gas prices continued to decrease as the European Commission is working on a new set of measures to moderate prices.