Daily Report

18 de Setembro de 2024
Financial Markets | daily report 18.09.2024
  • Stronger-than-expected retail sales and industrial production data in the US renewed expectations of a soft-landing for the economy, just as the Fed is expected to lower interest rates today. Rate futures are reflecting a 65% probability of a 50 bp rate cut and a total of -116 bp over the remaining three meetings this year.
  • In the euro area, the German ZEW confidence index dropped as sentiment and the assessment of the economic situation continued to worsen.
  • In this context, sovereign bond yields edged higher on both sides of the Atlantic. Euro area equities advanced following the release of the US macro data, while the S&P 500 and the Nasdaq had a strong start but ended the day flat. The US dollar held steady, leaving its cross with the euro around 1.11.
  • Crude prices rose to $74/barrel of Brent on easing concerns about weaking US demand