Daily Report

17 de Julho de 2024
Financial Markets | daily report 17.07.2024
  • Markets on both sides of the Atlantic saw mixed results yesterday. In the eurozone, where all eyes are on tomorrow's ECB meeting, sovereign bond yields fell while peripheral spreads remained flat after the ZEW survey showed German business sentiment at its lowest in four months in July and despite the Q2 BLS showing an increase in credit demand.
  • US Treasury yields also fell as comments from Fed officials on the day cited a lower inflation momentum in recent months and a rebalancing of the labour market as welcoming signs for an interest rate cut. Yields fell despite better-thanexpected US retail sales data, which showed consumer resilience.
  • In equity markets, eurozone indices were mostly lower while US indices were higher as retail sales data supported the soft-landing narrative. In currency markets, this narrative also supported the dollar, which posted some modest gains against its major peers. In commodities, oil prices fell on concerns about global demand due to weak Chinese growth.