Financial Markets Daily Report
27 septiembre 2023

Yesterdays session saw global equity markets mostly lower and government bond yields rising as investors continued to digest the higher for longer interest rate narrative and some weaker than expected US economic data releases.

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  • Yesterdays session saw global equity markets mostly lower and government bond yields rising as investors continued to digest the higher for longer interest rate narrative and some weaker than expected US economic data releases.
  • In the US, the Consumer Confidence Index fell in September from the previous month and came in below expectations, showing that households are at least beware of high inflation and interest rates. Housing data also gave mixed signals, with falling sales but rising house prices.
  • Against this backdrop of higher interest rate expectations, technology was the worst performing sector and its losses dragged the main indices lower, with the S&P500 and EuroStoxx 50 hitting 3-month lows.
  • In currency markets, the US dollar continued to strengthen and the euro hovered around $1.05. In commodity markets, European natural gas prices prolonged its volatility and strongly reversed the previous sessions rise.
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