Daily Report

23 de Janeiro de 2023
Financial Markets | daily report 23.01.2023
  • In the last session of the week, yields on sovereign bonds rose markedly, particularly so in the euro area, and stock indices advanced across the board. The surprise in the PPI m/m inflation in Germany (-0.4% vs consensus -1.2%) and the hawkish comments from ECB GC member Holzmann contributed to the increase in yields.
  • In the US, the rebound in stock indices was led by the tech sector, following positive activity results from Netflix and the announcement of job cuts in Alphabet. Also, Fed officials’ comments cemented the expectation of a 25bp interest rate hike in the next meeting.
  • This week the focus will be on the January PMI flash releases for the main advanced economies (Tuesday), the Ifo expectations for Germany (Wednesday), the first estimation of Q4 GDP figures (US on Thursday and Spain on Friday) and the US University of Michigan sentiment indices (Friday).