Financial Markets Daily Report 10 March 2023
Investors continued to trade with caution, taking position ahead of the publication today of the crucial US payrolls report for February. Data released on Thursday showed an unexpected increase in new jobless claims last week (to 211,000), which contrasted with signals from other surveys pointing to further tightening in the labour market.
- Investors continued to trade with caution, taking position ahead of the publication today of the crucial US payrolls report for February. Data released on Thursday showed an unexpected increase in new jobless claims last week (to 211,000), which contrasted with signals from other surveys pointing to further tightening in the labour market.
- In Europe, Bank of France Governor Francois Villeroy de Galhau said inflation remains elevated but should peak between now and June while the 2% target is likely to be reached by the end of 2024 or beginning of 2025. He stressed that the ECB will do what’s needed to combat high inflation.
- In this context, sovereign yields edged down across the board, led by short-term bonds in the US. Equity prices also dropped while the USD depreciated against peers. Oil prices continued to fall amid worries about global demand.
- This morning, the Bank of Japan left unchanged its policy rates and the parameters of its yield curve control policy.