Daily Report

13 de Novembro de 2024
Financial Markets | daily report 13.11.2024
  • Market sentiment was dampened by weak investor confidence data in Germany (ZEW index dropped to 7.4 from 13.1 in the previous month), where also Chancellor Scholtz announced elections will be held in February after the ruling coalition collapsed last week. Sentiment was further dampened by caution ahead of today's inflation report in the US.
  • In this context, sovereign bond yields rose across the board but most sharply on the long end of the US Treasury yield curve. The probability of a Fed interest rate cut in its upcoming December meeting fell to 60% from being fully discounted just a week ago.
  • Global equity markets fell, pausing the post-election rally, as investors took some profits and returned their focus to macro data. The US dollar hit a 6-month high, leaving its cross with the euro around 1.06 and with the yen close to 154. In commodities, oil prices hovered around $72/barrel (Brent) amid a stronger dollar and weak demand expectations.