Financial Markets Daily Report14 November 2023
Financial markets started the week on a cautious note as investors await for US October CPI data released today. The consensus expects price growth to have slowed to 0.1% m/m from September's 0.4%, implying a 3.3% y/y change in October, down from 3.7% last month.
- Financial markets started the week on a cautious note as investors await for US October CPI data released today. The consensus expects price growth to have slowed to 0.1% m/m from September's 0.4%, implying a 3.3% y/y change in October, down from 3.7% last month.
- In this context, sovereign bond yields were mostly flat with the 10-year yields falling a mere 1 bps on average both in the euro area and in the US. The main stock indices advanced in Asia and Europe and remained flat in the US, where the tech-heavy Nasdaq took a pause after a week-long rally.
- Elsewhere, the US dollar edged down leaving the euro around $1.07, and Brent oil prices rose. Besides US CPI data, investors will be waiting for euro area employment data and will continue monitoring negotiations in the US congress aimed at avoiding a government shutdown at the end of this week.