Financial Markets Daily Report 27 October 2023
In yesterday’s session, investors focused their attention to the ECB monetary policy meeting, where interest rates were left unchanged (depo and refi at 4.0% and 4.5%, respectively), and to Q3 GDP figures for the US, which grew at a solid 4.9% SAAR rate with dynamic rates of growth of private and public consumption and residential investment.
- In yesterday’s session, investors focused their attention to the ECB monetary policy meeting, where interest rates were left unchanged (depo and refi at 4.0% and 4.5%, respectively), and to Q3 GDP figures for the US, which grew at a solid 4.9% SAAR rate with dynamic rates of growth of private and public consumption and residential investment.
- In this context, yields on sovereign bonds declined in the euro area and, more markedly, in the US, with the 10-year treasury falling below 4.85%, while stock indices edged down on both sides of the Atlantic, amid some mixed corporate profit releases.
- Elsewhere, the US dollar strengthened against most advanced economies’ currencies and the euro fluctuated below $1.06. Meanwhile, the price of the barrel of Brent fell below $88.
- Earlier this morning we learned that Spain’s GDP grew at a rate of 0.3% in Q3 (0.4% in the previous quarter).