Financial Markets Daily Report11 March 2024
In the last session of the week investors digested the US February jobs report, which gave mixed signs about the conditions of the labor market. In particular, the unemployment rate rose from 3.7% to 3.9%, while 275k new jobs were created, as opposed to the 200k expected. Treasury yields ended mostly flat and US equities fell following a strong rally.
- In the last session of the week investors digested the US February jobs report, which gave mixed signs about the conditions of the labor market. In particular, the unemployment rate rose from 3.7% to 3.9%, while 275k new jobs were created, as opposed to the 200k expected. Treasury yields ended mostly flat and US equities fell following a strong rally.
- Elsewhere, euro area sovereign bond yields edged modestly lower, and equities were mixed regionally, falling more markedly in Portugal ahead of Sunday’s election (tightly won by the Democratic Alliance). In currency markets, the dollar weakened slightly and the euro held steady trading around $1.09.
- This week, the main focus will be on the US February CPI report, which will provide further data on the evolution of inflation and better clues for when the Fed might begin lowering rates. In the euro area, speeches from ECB officials, including de Guindos and Schnabel, are expected.