Financial Markets Daily Report 22 maig 2023
Investors closed the week trading more cautiously than in previous days. Negotiations on the US debt ceiling, which had seemingly advanced since Monday, were halted on Friday, causing US stocks to slide after a generally positive session in Europe. Negotiations are set to resume today.
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- Investors closed the week trading more cautiously than in previous days. Negotiations on the US debt ceiling, which had seemingly advanced since Monday, were halted on Friday, causing US stocks to slide after a generally positive session in Europe. Negotiations are set to resume today.
- Fed’s chair Powell said on Friday it is still unclear if US interest rates will need to rise further while, in Europe, ECB’s Lagarde and Schnabel signalled more monetary tightening. In this context, sovereign bond yields were rather flat after a week of gains. The dollar, on its part, depreciated modestly against its major peers.
- The focus this week will turn to the release of May’s flash PMIs across advanced economies (Tuesday) and Germany’s IFO survey (Wednesday). On Friday, April’s PCE inflation is released in the US. The minutes of the last Fed meeting will be published on Wednesday as well.