Daily Report

13 de Setembro de 2024
Financial Markets | daily report 13.09.2024
  • Another mixed session for financial markets as investors tried to figure out future rate moves from the main central banks. In the eurozone, the ECB delivered yesterday a 25 bp cut to its depo rate, bringing it to 3.5%. Regarding the October meeting, Lagarde just noted that it will take place too soon to provide the ECB with new data to assess price dynamics.
  • Sovereign bond yields ended the day higher across the board on both sides of the Atlantic. Although eurozone yields initially fell on the news of the ECB's rate cut, they then hiked with their US counterparts as the US Producer Price Index for August came in slightly higher than expected, increasing the likelihood of a cut of just 25 bp from the Fed next week.
  • Equity markets closed higher with major indexes around the world posting gains while, in the FX market, the dollar weakened against its major peers and especially against the euro and the yen, which was pushed higher by a BoJ official who called for Japanese rates to rise to at least 1%.