Financial Markets Daily Report13 February 2024
Markets kicked off the week in a rather calmed tone as investors await key economic data this week which will provide them further clues regarding future interest rate cuts. On the data front, NY Fed’s January Consumer Expectations Survey found that respondents expect 1-year inflation to remain at 3%, the lowest reading in three years.
- Markets kicked off the week in a rather calmed tone as investors await key economic data this week which will provide them further clues regarding future interest rate cuts. On the data front, NY Fed’s January Consumer Expectations Survey found that respondents expect 1-year inflation to remain at 3%, the lowest reading in three years.
- Sovereign bond yields edged lower in the euro area, with periphery economies’ yields posting larger movements and narrowing their risk premia. US Treasury yields were mostly unchanged. Stock indices advanced in the euro area and fell slightly in the US, while stock markets in China are closed the whole week due to the Lunar New Year festivities.
- Elsewhere, oil prices took a pause following weeks of gains, trading around $82/barrel of Brent, while the US dollar was mostly flat.
- Today’s focus will be US January inflation data with the release of the CPI, and the German Zew Confidence Index.