Markets ended the week on a constructive tone, with news of diplomatic negotiations in the U.S.-Iran conflict driving oil and gas prices lower and feeding into risk-on sentiment. Stocks rallied on both sides of the Atlantic, led by gains in the technology, financial, and consumer sectors. Early this morning, however, the pattern reversed.
Sovereign yields were volatile but closed lower in both the U.S. and Europe, and euro area peripheral spreads narrowed (France's closed unchanged). In FX markets, the euro was little changed while the yen strengthened against the dollar amid statements from U.S. and Japanese officials on the concern of a weaker yen.
This week, the focus in Europe will be on the release of September's preliminary inflation figures (Eurostat releases euro area-wide data on Friday). In the U.S., the key releases will be PCE inflation data (Tuesday), the September ISM figures, and the September employment report.
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.