CaixaBank Financial Markets Daily Report 23 October 2024 Financial markets had a choppy session on Tuesday, with many assets and indices oscillating between gains and losses. Government bonds had a slightly volatile session, ending with higher yields in the eurozone and flat in the US, as traders grappled with a strong primary market supply and different scenarios for the upcoming US presidential election. Recent developments New economic outlook: modest deterioration in the growth outlook for the international economy We are entering the final stretch of the year following a summer marked by the Olympic Games in Paris and a brief episode of financial turbulence which was triggered, in part, by fears that the US economy could fall into recession. Those fears have been shown to be… Rita Sánchez Soliva 16 October 2024 Commodities Energy: revision of the scenario in turbulent times As a result of the deterioration in the expectations for the growth of oil demand, we have considered it appropriate to revise our baseline scenario for energy prices, although we are aware of the difficulty of incorporating the uncertain geopolitical scenario into the… Beatriz Villafranca Serrano 16 October 2024 European Union Draghi proposes a European industrial policy as a driving force to address the challenges of the coming decades The Draghi report lays the foundations for re-industrialisation in Europe, combining sweeping actions with a menu of specific proposals for 10 strategic sectors. David del Val María Romero Meléndez 16 October 2024 United States of America What is driving the cooling of the US labour market? The US labour market is cooling down. The Fed acknowledges it and the statistics confirm it: the unemployment rate has increased 0.7 pps so far this year and in June job creation hit its lowest levels since 2021. Should we be concerned? Isabela Lara White 16 October 2024 Opinion US elections in a new phase The US presidential election to be held on 5 November is particularly significant, both due to the economic and geopolitical challenges that lie ahead and because of the antagonistic nature of the candidates’ profiles and programmes. José Ramón Díez 16 October 2024 Recent developments New economic outlook: upward revision of Spain’s GDP growth forecast Oriol Carreras Baquer Javier García Arenas 16 October 2024 Opinion The five keys to Spain’s Economic strength Oriol Aspachs 16 October 2024 Tourism Spain’s tourism sector breaks all records in summer 2024 David Cesar Heymann 17 October 2024 Portugal outlook Portugal: the revision of the National Accounts points to a more robust economy CaixaBank Research 16 October 2024 Publications Monthly Report October 2024 | No. 493 17 October 2024 Spain Spain’s Macroeconomic & Financial Outlook 14 October 2024 Portugal Portugal’s Macroeconomic & Financial Outlook 14 October 2024 Sectorial Report Real Estate. Strong demand and short supply shape the sector S2 2024 Sectorial Report Tourism. Sustainable growth: the challenge of Spain’s tourism sector S2 2024 Sectorial Report Sectoral Observatory 2024 Sectorial Report Agrifood. The sector is making headway despite adverse conditions 2023 Sectorial Report Manufacturing Industry 2023 Opinion Editorial US elections in a new phase José Ramón Díez Head of International Economics & Markets Key points of the month The five keys to Spain’s Economic strength Oriol Aspachs Head of Spanish Economics Recommended Tourism Spain’s tourism sector breaks all records in summer 2024 David Cesar Heymann 17 October 2024 World outlook Winds of change in the international economy CaixaBank Research 17 October 2024 Spain's outlook The Spanish economy, faring better than we thought CaixaBank Research 16 October 2024 United States of America What is driving the cooling of the US labour market? Isabela Lara White 16 October 2024 Opinion The five keys to Spain’s Economic strength Oriol Aspachs 16 October 2024 Commodities Energy: revision of the scenario in turbulent times Beatriz Villafranca Serrano 16 October 2024 Recent developments New economic outlook: upward revision of Spain’s GDP growth forecast Oriol Carreras Baquer Javier García Arenas 16 October 2024 Financial markets outlook Various tailwinds support investors’ risk appetite in September CaixaBank Research 16 October 2024 Recent developments New economic outlook: modest deterioration in the growth outlook for the international economy Rita Sánchez Soliva 16 October 2024 Most read Spain’s tourism sector breaks all records in summer 2024 Energy: revision of the scenario in turbulent times New economic outlook: upward revision of Spain’s GDP growth forecast What is driving the cooling of the US labour market? New economic outlook: modest deterioration in the growth outlook for the international economy Newsletter Being informed now is more important than ever Get our latest updates Sign in Hot topics Geopolitics Digitalisation & Technology Podcasts Todo lo que necesitas saber sobre economía internacional para empezar bien el otoño 26/09/2024 Forecasts Financial markets Update date 14-10-2024 Macroeconomic Update date 14-10-2024 Team María Romero Meléndez Economista Ariadna Vidal Martínez Lead economist Imelda Esteban Senior economist Judit Montoriol Garriga Lead economist David del Val Senior economist Beatriz Villafranca Serrano Economist Sergio Díaz Economist Meet us David Martínez Turégano Economist Josep Mestres Domènech Senior economist Ana María Porras Organization Léopold Jouven Analyst Oriol Aspachs Head of Spanish Economics Sandra Jódar Rosell Director of Strategic Planning Isabela Lara White Economist Meet us Maitane Lizarraga Analyst Rita Sánchez Soliva Economist José Ramón Díez Head of International Economics & Markets Adrià Morron Salmeron Lead economist Javier García Arenas Senior economist Nuria Bustamante Lead economist Enric Fernández Chief Economist Meet us José Antonio Sánchez Palomino Data scientist Javier Ibáñez de Aldecoa Fuster Economist Patricia Esteban Communication Mar Bisquert Perles Data scientist Luís Pinheiro de Matos Economist David Cesar Heymann Economist Alberto Graziano Senior Data Scientist Meet us Jesús Viscarri Organization Mireia Crusells Analyst Zoel Martín Vilató Economist Roser Ferrer Senior economist Pedro Álvarez Ondina Economist Carolina Cruz Organization Eduard Alcobé Garcia Data scientist Meet us Isabella Castillo Hernández Research assistant Ana Rincón García Organization Oriol Carreras Baquer Senior economist Meet us
Recent developments New economic outlook: modest deterioration in the growth outlook for the international economy We are entering the final stretch of the year following a summer marked by the Olympic Games in Paris and a brief episode of financial turbulence which was triggered, in part, by fears that the US economy could fall into recession. Those fears have been shown to be… Rita Sánchez Soliva 16 October 2024
Commodities Energy: revision of the scenario in turbulent times As a result of the deterioration in the expectations for the growth of oil demand, we have considered it appropriate to revise our baseline scenario for energy prices, although we are aware of the difficulty of incorporating the uncertain geopolitical scenario into the… Beatriz Villafranca Serrano 16 October 2024
European Union Draghi proposes a European industrial policy as a driving force to address the challenges of the coming decades The Draghi report lays the foundations for re-industrialisation in Europe, combining sweeping actions with a menu of specific proposals for 10 strategic sectors. David del Val María Romero Meléndez 16 October 2024
United States of America What is driving the cooling of the US labour market? The US labour market is cooling down. The Fed acknowledges it and the statistics confirm it: the unemployment rate has increased 0.7 pps so far this year and in June job creation hit its lowest levels since 2021. Should we be concerned? Isabela Lara White 16 October 2024
Opinion US elections in a new phase The US presidential election to be held on 5 November is particularly significant, both due to the economic and geopolitical challenges that lie ahead and because of the antagonistic nature of the candidates’ profiles and programmes. José Ramón Díez 16 October 2024
Recent developments New economic outlook: upward revision of Spain’s GDP growth forecast Oriol Carreras Baquer Javier García Arenas 16 October 2024
Portugal outlook Portugal: the revision of the National Accounts points to a more robust economy CaixaBank Research 16 October 2024
Spain's outlook The Spanish economy, faring better than we thought CaixaBank Research 16 October 2024
United States of America What is driving the cooling of the US labour market? Isabela Lara White 16 October 2024
Commodities Energy: revision of the scenario in turbulent times Beatriz Villafranca Serrano 16 October 2024
Recent developments New economic outlook: upward revision of Spain’s GDP growth forecast Oriol Carreras Baquer Javier García Arenas 16 October 2024
Financial markets outlook Various tailwinds support investors’ risk appetite in September CaixaBank Research 16 October 2024
Recent developments New economic outlook: modest deterioration in the growth outlook for the international economy Rita Sánchez Soliva 16 October 2024