Investor risk appetite recovered somewhat on Tuesday. In the Eurozone, government bond yields fell as several ECB officialscommented that inflation could stabilise at its 2% target sooner than expected just a few weeks ago. The US Treasury curveflattened, as short term yields rose as traders bet that the US could strike some favourable trade deals with key partners.
Such hopes also boosted equities, with US equity indices recovering from Monday's losses, even though the IMF cut its globalgrowth forecast by 0.5 p.p. to 2.8%, with the US forecast down almost 1 p.p. to 1.8%. European equity indices rose during thesession despite a slightly worse than expected consumer confidence report for April.
In the currency market, the dollar strengthened, particularly against the euro, on news that US Treasury Secretary Bessentsaid in a closed door meeting that he expected a de escalation in the US China trade war. In commodities, European naturalgas prices fell as stockpiling continued amid strong tanker arrivals.
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.