Financial Markets Daily Report27 April 2023
Investors continued to err on the side of caution on Wednesday, taking position ahead of the release of the Q1 GDP flash estimates for the US today and across the eurozone tomorrow.
- Investors continued to err on the side of caution on Wednesday, taking position ahead of the release of the Q1 GDP flash estimates for the US today and across the eurozone tomorrow.
- Equity markets closed with mixed results in the US as strong earnings from some tech companies helped offset lingering fears of the health of some regional banks as well as ongoing concerns of a global economic slowdown. Equity indices dropped in Asia and Europe amid disappointing earnings.
- Sovereign bond yields also ticked up, after falling in recent sessions. In the US, the House of Representatives passed a Republican bill that would raise the debt ceiling, even if the legislation is likely to be voted down in the Senate.
- Elsewhere, oil prices fell amid worries of a slowing demand and even after data showed crude inventories in the US dropped last week. Natural gas prices in Europe (TTF) fell to 38 €/MWh, the lowest level since July 2021.