Mixed session amid little macro data and a lack of trade negotiations news to trade on. Sovereign bond yields edged slightlyhigher on both sides of the Atlantic, with US yields receiving a boost by hawkish remarks from Fed officials warning of thepotential impacts of tariffs on prices. The 2 year Treasury yield closed above 4% for the time since late March.
Equity markets were mixed globally. In the euro area, the main indices ended the session lower, except for the Ibex35 which was boosted by industrial sector stocks. In the US, large cap tech stocks advanced, but the rest of the market was mostly flatas the rally fueled by trade talks (which erased the S&P500's losses after "liberation day"), took a pause.
In currency markets, the dollar was mostly flat and its cross with the euro traded around 1.11. And in commodities, oil pricesheld steady close to $66/barrel of Brent. Today's focus will be on US retail sales data for April, which should hint at howprivate consumption is responding to tariffs.
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.