Investors seemingly recovered some appetite for risk in yesterday's session. Stock markets rose moderately across advancedeconomies and sovereign yields increased both in the U.S. and Europe. The euro reversed Monday's gains and fluctuatedclose to $1.17 while commodity prices were mixed.
French 10-year sovereign yields jumped due to a change in the Bloomberg benchmark to a bond maturing in November 2035from one maturing in May 2035. After markets had closed, reports emerged that President Macron named Sebastien Lecornu(from Macron's Renaissance, and defense minister uninterrupted since 2022) France's new prime minister.
On the data front, a statistical revision showed that U.S. employment growth was less robust in the period from April 2024 toMarch 2025. Updated data show that the level of nonfarm employment was 911,000 (-0.6%) lower in March 2025 thanpreviously estimated (implying an average monthly change in employment of +71,000 instead of +147,000).
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.