Financial Markets Daily Report06 March 2024
In yesterday's session, investors traded cautiously amid mixed economic data releases. In the US, the services ISM declined from 53.4 to 52.6 in February, with the prices paid subcomponent declining from 64.0 to 58.6,. easing analysts' concerns of a further spike in inflationary pressures.
- In yesterday's session, investors traded cautiously amid mixed economic data releases. In the US, the services ISM declined from 53.4 to 52.6 in February, with the prices paid subcomponent declining from 64.0 to 58.6,. easing analysts' concerns of a further spike in inflationary pressures.
- In the euro area, the Spanish and Italian composite PMI rose to 53.9 and 52.2, signaling that their economies can grow at a solid pace in Q1. In this context, yields on sovereign bonds declined on both sides of the Atlantic and stock indices were mixed in the euro area and declined in the US.
- On US politics, Super Tuesday confirmed that the Republican and Democrat candidates for the November 5th Presidential elections will be former president Donald Trump and President Joe Biden. Today the focus will be on the Federal Reserve Beige Book and on the ADP employment report for February.