Daily Report

6 de Junho de 2024
Financial Markets | daily report 06.06.2024

In yesterday's session, markets digested mixed economic data from the US. The ADP monthly employment report showed
hiring at private companies grew at the slowest pace since the beginning of the year, a sign the labor market might be
cooling. Instead, the sharp rise in the ISM services index from 49.4 to 53.8 pointed to a rebound in the sector.

In this context, yields on sovereign bonds fell across the board for the third day in a row. Euro area equities were mostly
higher, except in Portugal where the energy sector weighed on the market’s performance. The main US indices reached
new all time highs, powered ahead by the technology sector, leading the S&P 500 to hit its 25th record this year.

Elsewhere, as expected, the Bank of Canada lowered interest rates by 25 bp to 4.75% marking the beginning of its
loosening cycle. Today, the ECB is expected to follow suit and annouce a 25 bp rate. Markets will especially be looking out
for any clues the central bank will provide regarding its next steps.