Financial Markets Daily Report 12 enero 2023
In yesterday's session, investors continued to trade with a risk-on mood, taking position ahead of potential surprises in the crucial CPI inflation report in the US due to be released today. The headline index is expected to decline m/m, increasing the odds for a 25bp hike in the next Federal Reserve meeting, instead of a 50bp hike.
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- In yesterday's session, investors continued to trade with a risk-on mood, taking position ahead of potential surprises in the crucial CPI inflation report in the US due to be released today. The headline index is expected to decline m/m, increasing the odds for a 25bp hike in the next Federal Reserve meeting, instead of a 50bp hike.
- As a result, yields on sovereign bonds declined in the US and in the euro area, in the latter also affected by German Chancellor Olaf Scholz's comments in favor of a new EU joint financial instrument to help member states compete against US subsidies for green technologies.
- Elsewhere, equities rose across the board, more notably in the US, while the euro exchange rate strengthened against most advanced economies' currencies. European natural gas prices continued to decline and fluctuated around levels not seen since before the war in Ukraine.