Financial markets were mixed yesterday. US Treasury yields were flat after the OECD lowered its global growth outlook from3.1% to 2.9% in 2025, citing concerns over Trump's trade war and its impact on the US economy. JOLTS data showed theresilience of the US labour market in April, while new orders from businesses fell, possibly due to frontloading in Q1.
Eurozone sovereign yields also remained unchanged, following a slight slowdown in Eurozone CPI to 1.9% in May, which didnot fundamentally alter market expectations regarding the ECB's interest rates. Equity indices around the world were mixed,with gains recorded in most developed and emerging markets. The US tech sector was a key driver once again.
In the FX market, the dollar weakened against its peers, particularly the JPY, but then rebounded from a sixweek low against the euro. Oil prices rose amid persistent tensions in the war in Ukraine and amid news that the US may keep sanctions onIran for longer than expected.
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.