Financial Markets Daily Report19 September 2023
Investors began the week focused on Wednesday’s FOMC meeting and weighing the impact of the steady rise in crude oil prices, with the Brent benchmark rising a further 0.7% during the session. In this context, European sovereign bond yields rose across the board, as did US short-term benchmarks.
- Investors began the week focused on Wednesday’s FOMC meeting and weighing the impact of the steady rise in crude oil prices, with the Brent benchmark rising a further 0.7% during the session. In this context, European sovereign bond yields rose across the board, as did US short-term benchmarks.
- Major European stock indices fell, dragged down by financials after Société Générale fell more than 12% as investors took a dim view of the reduction in profitability targets in its new strategic plan. Major US equity indices were broadly flat, aided by the good performance of energy companies.
- In the FX market the euro appreciated against its major peers and, in the commodities market, the European natural gas benchmark TTF fell, as production at Chevron’s Australian LNG plant where unionized workers went on strike last week resumed at full capacity with the non-union workforce.