Daily Report

25 de Setembro de 2024
Financial Markets | daily report 25.09.2024
  • China's central bank triggered a risk-on mood in financial markets yesterday by introducing the largest stimulus package since the pandemic to support its faltering economy: it reduced reserve requirements for banks, cut a key repo rate, and lowered the mortgage rate for homeowners.
  • Sovereign bond yields fell across the board on both sides of the Atlantic, with steeper and more positive yield curves. In the stock market, major indexes around the world posted broad gains, despite the US Conference Board's September reading showed consumer confidence souring over concers about labour demand.
  • In the FX market, the poor reading weighed on the dollar, which weakened against its major peers. The yen, on the other hand, strengthened despite BoJ Governor Ueda said the bank was in no rush to raise rates further. In commodities, oil prices rose on the back of Chinese stimulus measures, which should prop up the country's demand.