Financial Markets Daily Report 30 May 2023
The first session of the week started with investors trading with a risk-on mode after a deal to raise the US debt ceiling between President Biden and House speaker McCarthy was reached. As the session advanced, however, optimism faded as traders looked forward to potential hurdles for passing the deal this week in the US Congress.
- The first session of the week started with investors trading with a risk-on mode after a deal to raise the US debt ceiling between President Biden and House speaker McCarthy was reached. As the session advanced, however, optimism faded as traders looked forward to potential hurdles for passing the deal this week in the US Congress.
- In Spain, Prime Minister Pedro Sanchez announced that general elections will take place on July 23rd, following a weak performance of his PSOE party at the regional elections on Sunday.
- In this context, stock indices edged modestly down in most euro area and emerging markets (US and UK markets were closed due to a holiday) and yields on sovereign bonds decreased markedly.
- Today the focus will be on the release of the US Conference Board sentiment data and the European Commission confidence indicators. This morning, INE reported headline inflation in Spain eased from 4.1% y/y to 3.2% in May.