Daily Report
27 de Setembro de 2022
Financial Markets | daily report 27.09.2022
  • Investors continued to trade with a cautious approach at the start of the week, with risk appetite overshadowed by fears of persistent inflationary pressures and a global recession. UK markets remained in focus, after the pound fell near parity against the USD and bond yields surged as the government reiterated plans to cut taxes.
  • ECB president Christine Lagarde said the ECB will continue increasing rates, even with GDP growth expected to “slow substantially”. She added that quantitative tightening will be considered only once rate normalization is completed.
  • On the data front, the IFO business confidence in Germany fell to 84.3 in September, the lowest level since mid-2020. Separately, the OECD cut its global growth forecasts for 2023 by 0.6 pp to 2.2%.
  • In this context, stock indices fell while yields on sovereign bonds increased further across the board. The USD continued to appreciate, closing at 0.961 versus the EUR. Oil prices and natural gas prices also ticked down.