Uncertainty and risks surrounding US trade policy drove sentiment in financial markets during the session. PresidentTrump imposed 25% tariffs on all steel and aluminum imports, to which European Commission President von der Leyenresponded "will not go unanswered" while Canada's PM stated that his country will give a "firm and clear" response.
Euro area sovereign bond yields rose, and the region’s main equity indices made small gains. US Treasury yields also rose,mostly following Fed Chair Powell's testimony to the Senate Banking Committee in which he reiterated the Fed is in nohurry to lower interest rates further. US equities were mixed, and tech stocks ended the session lower.
Elsewhere, crude prices rose (the barrel of Brent closed around $77/barrel) on concerns about supply disruptions due tosanctions on Russia and Iran.
Today, US CPI for January will be released (headline is expected to remain at +2.9% yoy and core to fall to +3.1% yoy).
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.