Financial Markets Daily Report
30 November 2022

Investors traded cautiously in yesterday's session amid lower-than-expected inflation data in some euro area countries. In particular, November HICP year-on-year inflation decreased 0.3pp and 0.7pp in Germany and Spain to 11.3% and 6.6%, respectively. 

FMDR
  • Investors traded cautiously in yesterday's session amid lower-than-expected inflation data in some euro area countries. In particular, November HICP year-on-year inflation decreased 0.3pp and 0.7pp in Germany and Spain to 11.3% and 6.6%, respectively. 
  • In this context, yields on euro area sovereign bonds decreased and peripheral spreads narrowed modestly. In the US, yields on the Treasury bonds edged up ahead of a speech by Jerome Powell today. In stock markets, equities were mixed in advanced economies while rising in most emerging economies.
  • In energy markets, the price of European Natural gas (the TTF reference) rose as cold temperatures are extending throughout the region and despite the deal reached between Germany and Qatar to supply LNG in the long run.
  • Today the focus will be on November euro area inflation figures and on the second estimate of Q3 GDP in the US. 
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