Financial Markets Daily Report21 December 2023
In yesterday’s session, investors focused their attention to macroeconomic data releases. In the UK, inflation decreased by more than expected in November, from 4.6% to 3.9% the headline index and from 5.7% to 5.1% the core, reinforcing the idea that the BoE might start cutting rates in the first half of 2024.
- In yesterday’s session, investors focused their attention to macroeconomic data releases. In the UK, inflation decreased by more than expected in November, from 4.6% to 3.9% the headline index and from 5.7% to 5.1% the core, reinforcing the idea that the BoE might start cutting rates in the first half of 2024.
- Also, the US Conference Board consumer confidence index rose markedly from 101.0 to 110.7 points and, in the euro area, the European Commission consumer confidence edged modestly up from -16.9 to -15.1.
- In this context, yields on sovereign bonds declined on both sides of the Atlantic and stock indices declined across the board, particularly so in the US. Elsewhere, the US dollar strengthened against most of its peers and the euro fluctuated above $1.09.
- Today the focus will be on the third revision of the Q3 US GDP data.