Yesterday's was another volatile session, with markets assessing the fragility of the recent ceasefire agreement between the US and Iran, as Israel maintains its attacks against Lebanon. Brent crude prices closed higher at USD 96/barrel after briefly touching USD 93 during the session, while TTF natural gas prices closed down -3%.
On the macro front, euro area CPI data for May showed a heating inflation in line with expectations (3.2% vs 3% in April, core 2.5% vs 2.2% April). Despite this, sovereign yields fell, with a slight narrowing of peripheral spreads. US Treasuries were little changed after JOLTS data showed a jump in job openings.
In equities markets, euro area indices advanced while US indices closed mostly flat. The dollar was flat against most currencies, only strengthening against the Japanese yen and approaching the barrier of 160 JPY per USD that has previously triggered a currency intervention by authorities.
BANCO BPI, S.A., com sede na Avenida da Boavista, 1117, 4100-129 Porto; Capital Social: € 1 293 063 324,98; matriculada na CRC Porto sob o número de matrícula PTIRNMJ 501 214 534, como o número de identificação fiscal 501 214 534. Intermediário financeiro registado na CMVM com o n° 300 e no Banco de Portugal sob o código n° 10. Agente de Seguros n.º 419527591, registado junto da Autoridade de Supervisão de Seguros e Fundos de Pensões em 21/01/2019, e autorizado a exercer atividade nos Ramos de Seguro Vida e Não Vida.