Daily Report

3 de Março de 2025
Financial Markets | daily report 03.03.2025
  • Mixed sentiment in financial markets as the week came to a close amid political uncertainty in Germany (where Merz has started coalition talks), tariff threats from the Trump Administration (tariffs on Canadian and Mexican imports are expected to be reinstated this week) and inflation data on both sides of the Atlantic.
  • In the euro area, inflation figures for February in Italy, France and Germany came in as expected, and the ECB reported lower inflation expectations from consumers (1 year ahead expectations fell from 2.8% to 2.6%). The region's sovereign bond yields ended the session flat while equities were mixed, with the Ibex 35 leading the gains.
  • In the US, January PCE advanced as expected by +0.3%m/m (2.5% yoy), but consumer spending fell for the first time in two years. Treasury yields fell as markets increased expectations of interest rate cuts from the Fed this year. The main equity indexes advanced +1%, partially reversing the heavy losses from the previous session.