Financial Markets Daily Report
16 julio 2026
Softer-than-expected US inflation data drove a decline in Treasury yields, while equity markets showed a mixed performance across the Atlantic. US June PPI came in below expectations, following the previous day’s soft CPI, while Fed officials struck a hawkish tone but signalled patience, prompting a repricing of Fed rate expectations, with the probability of an additional hike declining to around 40%. US Treasury yields declined, with a flattening of the curve led by the short end.
ECB officials reiterated a wait-and-see approach, keeping market pricing for rates broadly unchanged at discounting two further hikes over the next 12 months, in a context of renewed tensions in the Strait of Hormuz and higher crude prices. European sovereign yields and peripheral spreads were broadly unchanged, while interbank rates rose.
In FX markets, the euro appreciated, supported by widening rate differentials. Equity indices were mixed in Europe but rose in the US, supported by strong bank earnings. In commodities, oil prices ended little changed after a choppy session.