Financial Markets Daily Report31 gener 2024
Tuesday was a mixed bag for financial markets, with macro data and earnings releases on the agenda ahead of today’s highly anticipated FOMC meeting.
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- Tuesday was a mixed bag for financial markets, with macro data and earnings releases on the agenda ahead of today’s highly anticipated FOMC meeting.
- In the Eurozone, GDP data showing a stagnant (albeit better than expected) economy in Q4 led to a moderate fall in short-term government bond yields, while long-term yields rose slightly after economic confidence remained unchanged.
- In the US, JOLTS showed the number of unfilled job vacancies rose in December, which gives the Fed extra time to ponder its first rate cut. This, together with the decline in forecasted Treasury issuance, kept short-term sovereign yields flat.
- In the equity market, major European indices rose on the back of solid Q4 results from some companies. US indices fell as investors awaited earnings from the biggest technology companies, which were due after yesterday’s close. Chinese indices fell on renewed concerns about the property sector after Evergrande received a court order to liquidate.