Financial Markets Daily Report 17 November 2022
Investors traded with a cautious mood in yesterday’s session amid mixed economic data in the US and a delicate geopolitical situation. Nevertheless, US and NATO comments are for now ruling out the possibility that the missiles hitting Poland had a Russian origin.
- Investors traded with a cautious mood in yesterday’s session amid mixed economic data in the US and a delicate geopolitical situation. Nevertheless, US and NATO comments are for now ruling out the possibility that the missiles hitting Poland had a Russian origin.
- On the data front, US retail sales rose by more than expected in October (1.3% m/m vs 0% in September), while industrial production fell by 0.1% m/m and previous month data were revised downwards.
- In this context, equities declined across the board and yields on the 10-year sovereign bonds declined markedly in both sides of the Atlantic. However, the yield on the 2-year Treasury edged up as investors might be betting that the Federal Reserve will have to push for a “higher for longer” monetary policy strategy after the strong retail sales data.
- Today the focus will be on the final release of October HICP inflation in the euro area.