Daily Report
28 de Setembro de 2022
Financial Markets | daily report 28.09.2022
  • Volatility remained elevated across financial markets, with investors keeping the focus on the mix of monetary and fiscal policy across advanced economies, more notably in the UK. On the data front, growth in house prices in the US slowed down in July while US consumer confidence improved for a second month in a row in September.
  • The Bank of England Chief Economist Pill said the UK’s fiscal plans will require a significant monetary policy response but added that the Bank will wait until the next meeting. In the US, St. Louis Fed Bullard called for further rate hikes while SF Fed Daly said the risk of a recession has risen. Chicago Fed Evans noted rates should peak by next spring.
  • In this context, sovereign bond yields rose further, with the spread in the Italian debt widening to 251 bp. Stocks were mixed while the pound exchange rate stabilized. Natural gas prices rose after Nord Stream said it is “impossible” to estimate when flows could resume, and news reporting Russia may sanction Ukraine’s gas exporter Naftogaz.