Financial Markets Daily Report12 February 2024
The week ended with markets trading without a clear direction as investors continued to monitor central bank officials' speeches to adjust their expectations of the timing of the first interest rate cuts, and as they awaited key economic data to be released this week.
- The week ended with markets trading without a clear direction as investors continued to monitor central bank officials' speeches to adjust their expectations of the timing of the first interest rate cuts, and as they awaited key economic data to be released this week.
- In this context, sovereign bond yields rose modestly on both sides of the Atlantic, while equity markets were mixed. In the US, tech companies rallied pushing the S&P 500 to cross the 5000-points mark reaching a new all-time high. Euro area equity indices were mostly flat.
- In commodity markets, Brent prices traded above $82/barrel on mounting tensions in the Middle East. And in currency markets, the dollar barely moved, leaving the euro around $1,07. This week, the main focus will be US January inflation data (Tuesday) and euro area 4Q GDP detailed estimate (Wednesday) following flash figures released a few weeks ago.