Financial Markets Daily Report 07 febrer 2024
In a session with no big economic data releases, except for the -1.1% m/m December retail sales in the euro area, investors reassessed their expectation on the upcoming central bank interest rate cuts.
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- In a session with no big economic data releases, except for the -1.1% m/m December retail sales in the euro area, investors reassessed their expectation on the upcoming central bank interest rate cuts.
- Yesterday, some Fed and ECB officials offered speeches suggesting that while an easing of the monetary policy stance is projected to be needed in 2024, they prefer to be prudent and make sure that the upcoming inflation data continues to advance in the right direction.
- In this context, yields on sovereign bonds edged lower on both sides of the Atlantic and stock indices rose modestly across the board, except for the Japanese Nikkei 225. Elsewhere, the price of the barrel of Brent rose after the U.S. Energy Department said crude oil production would grow less than previously forecasted.
- Today the focus will be on the Fed (Harker, Kugler, Collins, Barkin and Bowman) and ECB (Muller) speeches.