Financial Markets Daily Report27 October 2023
In yesterday’s session, investors focused their attention to the ECB monetary policy meeting, where interest rates were left unchanged (depo and refi at 4.0% and 4.5%, respectively), and to Q3 GDP figures for the US, which grew at a solid 4.9% SAAR rate with dynamic rates of growth of private and public consumption and residential investment.
- In yesterday’s session, investors focused their attention to the ECB monetary policy meeting, where interest rates were left unchanged (depo and refi at 4.0% and 4.5%, respectively), and to Q3 GDP figures for the US, which grew at a solid 4.9% SAAR rate with dynamic rates of growth of private and public consumption and residential investment.
- In this context, yields on sovereign bonds declined in the euro area and, more markedly, in the US, with the 10-year treasury falling below 4.85%, while stock indices edged down on both sides of the Atlantic, amid some mixed corporate profit releases.
- Elsewhere, the US dollar strengthened against most advanced economies’ currencies and the euro fluctuated below $1.06. Meanwhile, the price of the barrel of Brent fell below $88.
- Earlier this morning we learned that Spain’s GDP grew at a rate of 0.3% in Q3 (0.4% in the previous quarter).