Financial Markets Daily Report12 June 2023
Last week ended on a subdued note. Equity indexes were mixed, mostly lower in Europe but with some gains in the US, especially in the interest rate sensitive Nasdaq. Long-dated government bond yields were broadly lower, while shorter-dated yields rose, particularly in the US. Oil and commodities were lower following weak Chinese economic data.
- Last week ended on a subdued note. Equity indexes were mixed, mostly lower in Europe but with some gains in the US, especially in the interest rate sensitive Nasdaq. Long-dated government bond yields were broadly lower, while shorter-dated yields rose, particularly in the US. Oil and commodities were lower following weak Chinese economic data.
- This week's central bank meetings from the Fed, the ECB and the Bank of Japan will be in focus. The Fed is expected to pause for the first time in its 14-month hiking cycle on Wednesday, while the ECB is likely to raise rates by 25bpson Thursday and the Bank of Japan is expected to keep monetary policy loose on Friday.
- Beyond the central banks, this week will see the release of US CPI data on Tuesday, as well as retail sales in China and the US on Thursday, and industrial production in the euro area will be released on Wednesday.