Financial Markets Daily Report08 November 2023
The possible end of the central banks’ hiking cycle continued to weigh on financial markets’ sentiment yesterday. A list of FOMC members said yesterday that the US economy remains strong but expressed a generalized preference for remaining patient amid rising uncertainty in the coming months.
- The possible end of the central banks’ hiking cycle continued to weigh on financial markets’ sentiment yesterday. A list of FOMC members said yesterday that the US economy remains strong but expressed a generalized preference for remaining patient amid rising uncertainty in the coming months.
- In this context, yields on sovereign bonds declined on both sides of the Atlantic. In the euro area, peripheral spreads narrowed except for Portugal following the resignation of Prime minister Antonio Costa after revelations about an investigation into possible government corruption.
- In equity markets, indices declined in the euro area and Asia but rose in the US, thanks to the technology sector performance. Elsewhere, the US dollar strengthened against most of its peers and oil prices declined.
- Today the focus will be on the release of the September retail sales data for the euro area.