Financial Markets Daily Report28 February 2024
Investors traded cautiously in yesterday’s session as they await key inflation data this week. The unexpected drop in US consumer confidence index to 106.7 (vs. 115 expected) from 110.9 in January, and the low levels on confidence in Germany (Consumer Confidence Index at -29 as expected), did little to move markets yesterday.
- Investors traded cautiously in yesterday’s session as they await key inflation data this week. The unexpected drop in US consumer confidence index to 106.7 (vs. 115 expected) from 110.9 in January, and the low levels on confidence in Germany (Consumer Confidence Index at -29 as expected), did little to move markets yesterday.
- In this context, sovereign bond yields were little changed, edging higher in the euro area, while US treasury yields fell modestly on the short end of the curve and slightly rose in the longer end. Equities posted small advances, except the Ibex-35 which ended the day with minor losses. Equities in Japan were flat following higher-than-expected inflation.
- Elsewhere, oil prices rose above $83.5/barrel of Brent following reports that OPEC+ is considering extending voluntary output cuts to further support current price levels. In currency markets, the dollar was mostly flat against its peers leaving its cross with the euro around $1.08.