Financial Markets Daily Report 15 setembre 2023
In yesterday's session, investors' attention focused on the ECB monetary policy meeting, where interest rates were hiked by 25bp to 4.0% (depo) and 4.5% (refi). More importantly, the ECB said that these levels, if maintained for a sufficiently long period, might not need to be raised further to return inflation back to 2%.
- In yesterday's session, investors' attention focused on the ECB monetary policy meeting, where interest rates were hiked by 25bp to 4.0% (depo) and 4.5% (refi). More importantly, the ECB said that these levels, if maintained for a sufficiently long period, might not need to be raised further to return inflation back to 2%.
- This announcement pushed sovereign yields down in the euro area, particularly so in the periphery, and helped stock indices to register advances above 1%. In the US, somewhat better-than-expected economic and labor market data releases improved investors' sentiment and pushed US Treasuries yields and stock indices higher.
- Elsewhere, the euro weakened against most currencies and fluctuated below $1.07 while, in commodity markets, the price of the barrel of Brent crude rose towards $94 amid concerns over limited oil supply.
- Today the focus will be on the releases of US August industrial production and September U. of Michigan sentiment.