Daily Report

20 de Setembro de 2024
Financial Markets | daily report 20.09.2024
  • The Federal Reserve's decision to lower interest rates by 50 bp sent global stocks soaring during yesterday's session. Equities climed more than 2% in the euro area, and in the US, the S&P 500 reached a new all-time high, as stocks priced in the soft-landing scenario.
  • Sovereign bonds were mixed. Yields fell on the shorter end of the curves in the US and Germany , favoring further steepening of the curves. Yields on euro area peripheral bonds were mostly flat. Rate futures markets continued to price in 75 bp of additional cuts from the Fed and 25bp from the ECB during the rest of the year.
  • In commodities markets, oil climbed close to $75/barrel of Brent as tensions mounted in the Middle East and concerns about weaking demand from the US eased on increasing soft-landing expectations.
  • In the UK, the BoE kept interest rates at 5.00%, as expected, and sounded cautious about the progress of inflation.