Financial Markets Daily Report
17 November 2022

Investors traded with a cautious mood in yesterdays session amid mixed economic data in the US and a delicate geopolitical situation. Nevertheless, US and NATO comments are for now ruling out the possibility that the missiles hitting Poland had a Russian origin.

FMDR
  • Investors traded with a cautious mood in yesterdays session amid mixed economic data in the US and a delicate geopolitical situation. Nevertheless, US and NATO comments are for now ruling out the possibility that the missiles hitting Poland had a Russian origin.
  • On the data front, US retail sales rose by more than expected in October (1.3% m/m vs 0% in September), while industrial production fell by 0.1% m/m and previous month data were revised downwards.
  • In this context, equities declined across the board and yields on the 10-year sovereign bonds declined markedly in both sides of the Atlantic. However, the yield on the 2-year Treasury edged up as investors might be betting that the Federal Reserve will have to push for a higher for longer monetary policy strategy after the strong retail sales data.
  • Today the focus will be on the final release of October HICP inflation in the euro area.
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