Daily Report

17 de Dezembro de 2024
Financial Markets | daily report 17.12.2024
  • The advance PMI figures for December extended the recent trend of divergent growth between the US and euro area countries. The composite PMI in the US rose from 54.9 last month to 56.6, whereas the euro area composite index stayed below 50, albeit improving from 48.3 to 49.5, boosted by a recovery in the services sector (to 51.4).
  • Without any other major macro data to trade on, financial markets had a tranquil session. Euro area peripheral sovereign bond yields were slightly higher, with the focus on France, where Moody's downgraded its credit rating from Aa2 to Aa3, reflecting a worsening fiscal outlook. French risk premia closed the session at 80 bps.
  • In the US, treasury yields were basically flat, while stocks advanced for another session and the Nasdaq hit a new all-time high. The dollar hovered around a three-week high ahead of the Fed's FOMC decision later this week.
  • Oil prices fell below $74/barrel of Brent after weak consumer data from China revived fears of a demand slowdown.