Investors kicked off the week on a cautious tone following President Trump's tariff threats over the weekend, which hesaid would include a 25% tariff on aluminium and steel imports (eventually signed via executive order late last night) aswell as a series of further reciprocal tariffs on all trading partners.
Euro area sovereign bond yields edged lower and peripheral risk premia held steady, amid remarks from ECB officialswhich continued to highlight the heightened uncertainty caused by US tariff threats. US Treasury yields were mixed albeitwith small movements along the curve.
Equity markets advanced on both sides of the Atlantic, and the Ibex-35 posted some of the smallest gains weighed downby financials. Elsewhere, most currencies weakened against the dollar amid growing fears of an escalation in tradetensions, with the euro trading around $1.03 for most of the session.
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.