Daily Report

10 de Julho de 2024
Financial Markets | daily report 10.07.2024
  • During yesterday's session, investors continued to assess the results of the French elections last weekend which left the country with a fragmented National Assembly. Financial markets seemed to value the situation negatively and adopted a risk-averse tone, sending euro area sovereign bond yields higher and equities sharply lower, particularly in France.
  • In the US, Powell delivered his semi-annual testimony to Congress, repeating the same message the Fed has been sending lately: he emphasized the need for more months of good data to increase the Fed's confidence that inflation is falling sustainably, while also highlighted the strength of the labor market.
  • With no surprises from Powell, US financial markets had a much quieter session, as investors await key inflation data and the start of the earnings season later this week. Treasury yields edged higher at the long end of the curve, and equities were mostly unchanged.