Tueday saw a mixed session across markets. Fed Chair Powell acknowledged the resilience of the US economy but noted the labor market remains subdued, with limited hiring and firing activity, prompting a decline in short-term Treasury yields. Separately, the NFIB survey showed business confidence softened in September and many owners planned price increases.
European sovereign yields also declined, led by French bonds, after the new Lecornu government announced it would suspend a pension reform law to consolidate parliamentary support. Meanwhile, German investor sentiment improved less than expected, according to the ZEW index, and the IMF raised its euro area growth forecast from 1.0% to 1.2%.
In other asset classes, renewed trade tensions between the U.S. and China weighed on sentiment, after President Trump threatened to halt cooking oil trade and China sanctioned U.S. units of a South Korean shipping firm. Most major equity indices declined, while the dollar weakened against the euro and yen.
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.