Portugal cresce menos no início do ano
• The yield on 10-year U.S. Treasuries jumped above the 3 percent threshold to its highest level in about seven years. European sovereign yields ticked up more moderately and the U.S. dollar strengthened further.
• U.S., Japanese and emerging stock markets declined and European equities were mixed.
• The second release of euro area Q1 GDP confirmed the 0.4% qoq growth rate (2.5% yoy). In Germany, Q1 GDP growth decelerated to 0.3% qoq and 2.3% yoy (down from 0.6% qoq and 2.9% yoy in Q4 2017).
• In Portugal, GDP grew by 0.4% qoq and 2.1% yoy in Q1 2018 (down from 0.7% qoq and 2.4% yoy) according to INE's first release. The components breakdown is not available yet, but the INE's press release suggests that domestic demand contributed positively (with strong consumption and investment growth) while external demand had a negative net contribution due to strong imports.