Daily Report

31 de Maio de 2024
Financial Markets | daily report 31.05.2024
  • Sentiment in sovereign bond markets during yesterday's session turned more positive following the revision of US GDP Q1, which showed the economy grew somewhat less than previously estimated (0.33% vs 0.42% q/q), giving the Federal Reserve more room to lower interest rates this year. Yields on sovereign bonds fell across the board.
  • Equity markets rallied in the euro area supported by lower yields but retracted in the US weighed down by the technology sector, after some disappointing sales forecasts by some tech companies. The US dollar lost some ground against its main peers, and oil prices continued to ease with Brent trading around $82/barrel.
  • Today's focus will be on euro area May inflation, expected to rise to 2.5% yoy up from 2.4% in April. In the US, the April PCE deflator, the Fed's preferred inflation measure, will be released and is estimated to remain unchanged from the previous month at 2.7% yoy (0.3% mom).