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In yesterday's session, sentiment recovered somewhat as investors continued to assess the inflation and growth outlook amid several central bank officials’ comments.

In yesterday’s session traders searched for safe-haven assets, following weak economic data and hawkish comments from some ECB members, arguing in favor of a 50bp hike in the policy rate in July.

During a volatile session, investors continued to trade with a cautious mode, taking position ahead of the crucial Federal Reserve meeting today. Implied forwards suggest a 75 bp interest hike is expected to be announced today.

Risk appetite extended across markets on Tuesday, as investors weighted cheaper valuations against fears of a sharp slowdown in the global economy and a more aggressive withdrawal of monetary policy stimuli by central banks.

In yesterday’s session, investors’ concerns of a decelerating economy spiked after worse-than-expected sentiment data in Germany and the euro area and comments from Richmond Federal Reserve President Thomas Barkin.

Investors started the week trading cautiously, taking on board weak sentiment data, hawkish commentary by some ECB officials and news reporting that Russia is due to reduce gas supplies to Europe.

In yesterday’s session, higher-than-expected inflation data for December in Japan (headline 4.0%; core 2.7%) and hawkish comments from some central bank officials were the main drivers in financial markets. In particular, ECB Isabel Schnabel reiterated that interest rates need to be risen significantly to tackle down inflation.

Volatility remained elevated across financial markets on Thursday, in a session characterized by risk-on sentiment. In line with expectations, the ECB announced a 50 bp hike in its policy interest rates, although refusing to pre-commit to a given size and pace of future adjustments, instead reiterating a data-dependency approach.

Investors started the week trading with a cautious approach, in a session characterized by low volumes due to Easter holidays (financial markets were closed in most European countries as well as in Australia and Hong Kong).

A more risk-on session was recorded across global markets on Thursday, as investors balanced out positive signals from corporate earnings results in the tech sector with mixed US economic data.

Another session with mixed results across financial markets on Wednesday, with investors’ sentiment weighted down by weak trade data in China and hawkish signals from some major central banks.

In yesterday’s session, investors continued to err on the side of caution amid hawkish rhetoric from ECB officials and mixed economic data.

Investors started the week trading cautiously. Weak manufacturing sector surveys pointed to a cooling yet resilient economy but were not enough to completely dampen investors’ risk appetite.

A lower-than-expected reading of June’s US inflation led investors to project a lower path for the Federal Reserve’s interest rates. Concretely, headline and core inflation fell by 1pp and 0.5pp to 3.0% y/y and 4.8% y/y, respectively.

A session with mixed results on Tuesday, as investors balanced out somewhat dovish comments from some key ECB officials with softer-than-expected activity data in the US (retail sales rose by 0.2% m/m in June while industrial production fell by 0.5% m/m) and a new batch of positive earnings reports from some US banks.

Investors continued to trade with a cautious tone on Thursday, taking on board a new bath of data pointing to moderating inflationary pressures in Europe and a tight labour market in the US.

In yesterday's session, weaker-than-expected US economic data led investors to lower their expectations for Federal Reserve interest rate hikes at upcoming meetings.

Yesterday’s session saw global equity markets mostly lower and government bond yields rising as investors continued to digest the “higher for longer” interest rate narrative and some weaker than expected US economic data releases.

Yesterday's session was filled with economic data releases. In the US, Q2 2023 GDP revision left growth unchanged from previous estimates at 2.1% SAAR, and personal consumption had its slowest increase in a year. In Europe, September inflation in Germany eased to 4.5% y/y from 6.1% in August but ticked up in Spain to 3.5% from 2.6%.

In yesterday's session, euro area economic releases took center stage. Lower-than-expected October y/y inflation in Germany (3.0% vs 3.3% expected) and in Spain (3.5% vs 3.8% expected) pushed euro area sovereign yields down and the area's main stock indices up. 3Q German GDP growth came in at -0.1% vs -0.2% expected.