Financial Markets Daily Report05 March 2024
In the first session of the week investors traded cautiously as they wait for new messages coming from central bank officials on the interest rate path ahead. In particular, all eyes are on the ECB Governing Council meeting on Thursday, where the ECB is expected to keep rates unchanged and reiterate the data dependency approach for 1H2024.
- In the first session of the week investors traded cautiously as they wait for new messages coming from central bank officials on the interest rate path ahead. In particular, all eyes are on the ECB Governing Council meeting on Thursday, where the ECB is expected to keep rates unchanged and reiterate the data dependency approach for 1H2024.
- In the US, Atlanta Federal Reserve President Raphael Bostic said he needs to see more progress of inflation coming back to 2% before favoring a less restrictive monetary policy stance. Jerome Powell is expected to speak in front of Congress on Wednesday and Thursday.
- In this context, yields on US sovereign bonds rose, particularly so in the short-end of the curve, while declining in the euro area. Elsewhere, equities were mixed and the euro strengthened against most of its peers, fluctuating below $1.09.
- In Spain, labor market figures surprised to the upside with an increase of 73.5k affiliated to social security in February.