During Tuesday's session, eurozone investors remained focused on French political risk, while US markets saw some thintrading volumes ahead of the 4th of July holiday. In the eurozone, government bond yields fell and peripheral spreadstightened as the May inflation reading came in line with expectations, easing slightly from May but with service costs stuck.
In the US, government bond yields also fell as the JOLTS data showed a steady easing in the labour market. Although thenumber of job openings rose in May, data for previous months were revised downwards and the overall trend should givethe Fed some room to cut interest rates at some point this year.
In equity markets, European indices were broadly lower, while US indices were higher, mainly due to the strongperformance of some mega cap stocks. In currency markets, the euro and the dollar were stable and, in commoditiesmarkets, oil prices fell on concerns about supply disruptions caused by Hurricane Beryl in the US.
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.