Financial Markets Daily Report30 gener 2024
Investors started the week in a mildly risk-on mood, with sovereign bond yields falling across the board. In the Eurozone, ECB officials speaking on Monday seemed confident about a future rate cut, although they remained inconclusive on the exact timing of it. US yields were weighed down by the Treasury's lower than expected Q1 borrowing forecast.
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- Investors started the week in a mildly risk-on mood, with sovereign bond yields falling across the board. In the Eurozone, ECB officials speaking on Monday seemed confident about a future rate cut, although they remained inconclusive on the exact timing of it. US yields were weighed down by the Treasury's lower than expected Q1 borrowing forecast.
- Major developed markets stock indices also posted gains, ahead of a busy week packed with earnings reports from the biggest US technology companies and European banks. Chinese equities fell again, after a week of gains boosted by the recent government stimulus, amid ongoing concerns about the property sector.
- In the FX market, the euro weakened against its major peers on the back of expected interest rate cuts. In the commodities market, oil fell as concerns over global demand outweighed Red Sea turmoil. On the data front, today's focus will be on Q423 Eurozone GDP and the Conference Board's consumer confidence index in the US.