Daily Report
29 de Setembro de 2022
Financial Markets | daily report 29.09.2022
  • Financial markets recorded yet another session with high volatility, with the key drivers remaining the direction of monetary policy, the escalation in tensions with Russia and the strength of the USD.
  • ECB president Christine Lagarde said policy rates will be raised at the next “several meetings” to reach the neutral level, while other members of the Council (Austria, Finland, and Slovakia) called for a 75 bp rate hike in October.
  • The Bank of England announced that it will carry out temporary purchases of long-dated government bonds to ease selling pressure in the bond market, while postponing the start of QT to the end of October.
  • Sovereign bond yields edged down across the board after the announcement while stocks recorded a modest rebound. Natural gas prices in Europe rose notably, amid the escalation in tensions with Russia after leaks were reported in the Nord Stream pipelines. Today the key focus will be in the flash HICP inflation in Germany and Spain.