Daily Report

29 de Fevereiro de 2024
Financial Markets | daily report 29.02.2024
  • Yesterday's session in financial markets was a quiet one without any major macroeconomic data releases nor central bank speeches, and as the Q4 2023 corporate earnings season is nearing its end. All eyes remain attentive to today's release of the US PCE deflator, the Fed's favored inflation gauge,and some European countries' CPI.
  • In this context, euro area sovereign bond yields were mostly unchanged and slightly fell in the US. Meanwhile, euro equity indices were generally flat, and US indices posted some small losses led by interest-rate sensitive technology stocks ahead of inflation data. Oil Brent prices traded around $83/barrel and European natural gas rose above 25/Mwh.
  • On the data front, US 4Q GDP was revised slightly downwards, from 0.81% to 0.79% qoq (from 3.3% to 3.2% yoy SAAR), without any major impact on markets. Remarks from Fed and ECB officials yesterday echoed previous messages on the need for stronger evidence inflation has returned sustainably to the target before cutting rates.