Financial Markets Daily Report 29 mayo 2023
In the last session of the week, investors traded with an optimistic mood amid steady economic indicators and as the US debt ceiling deal seemed more likely. In fact, on Saturday President Joe Biden and House speaker McCarthy reached a deal to raise the ceiling that will now have to pass Congress.
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- In the last session of the week, investors traded with an optimistic mood amid steady economic indicators and as the US debt ceiling deal seemed more likely. In fact, on Saturday President Joe Biden and House speaker McCarthy reached a deal to raise the ceiling that will now have to pass Congress.
- Still on the political side, Erdoğan won the second round of the Presidential elections in Turkey (52.2%).
- In this context, yields on sovereign bonds edged up in Europe and in the short end of the US Treasury curve. US longer maturities' yields edged lower. In stock markets, volatility declined and equities rose across the board. Elsewhere, the price of European natural gas fell below 25€/MWh, a level not seen since mid-2021.
- This week the focus will be on euro area May inflation figures (Spain on Tuesday, euro area aggregate on Thursday), the European Commission confidence indicators for May (Tue.) and the US labor market report (Fri.).