Daily Report

8 de Outubro de 2024
Financial Markets | daily report 08.10.2024
  • Investors started off the week on a mixed tone. In the money market, interbank rates rose as investors reassessed their expectations of further aggressive interest rate cuts. Sovereign bond yields also rose on both sides of the Atlantic, with the US treasuries' curve flattening as short-term benchmarks rose the most.
  • There was more geographical divergence in the stock market. Most eurozone indices rose, driven by the good performance of luxury companies exposed to China, energy companies, and financial companies, as slower rate cuts from central banks were priced in. Meanwhile, US indices fell, dragged down by the poor performance of some tech companies.
  • In the FX market, the euro was flat against the dollar, while the yen strengthened, as the BoJ upgraded its assessment of wage growth in some regions, a stated prerequisite for further rate hikes. In commodities, Brent crude oil rose above $80 a barrel, as tensions in the Middle East showed little signs of easing.