Dovish remarks from Fed Governor Chris Waller and a JOLTS job report that showed US job openings fell in July to the lowestin 10 months, reniforced market expectations of a Fed rate cut in its September meeting. US Treasruy yields fell and stocksadvanced, while the dollar edged lower.
Sentiment also recovered in the euro area after the global bond sell-off in the previous session. Sovereign bond yields fell andperipheral risk premia narrowed, except for France, whose risk premia remained flat. On the macro data front, final PMIfigures confirmed euro area activity remained sluggish during August, with the composite index at 51.0.
In commodities markets, oil prices fell by 2% ahead of a weekend meeting of OPEC+ producers that is expected to consideranother increase in production in an environment described by the IEA as one of excess supply. Brent crude traded close to$67.5/barrel.
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.