Daily Report

21 de Junho de 2024
Financial Markets | daily report 21.06.2024
  • Yesterday's session provided some mixed signals on investor sentiment. Government bond yields rose slightly on both sides of the Atlantic, with peripheral eurozone spreads narrowing. This was partly explained yesterday's auction of French sovereign bonds, which despite recent volatility were in high demand from investors.
  • In equity markets, however, the picture was mixed. Eurozone equity indices rose as some ECB officials made slightly dovish comments about further interest rate cuts this year, and as yesterday's consumer confidence data for June showed a marginal improvement from May. In the US, however, equity indices fell, dragged down by some large tech companies.
  • In the FX market, the EUR strengthened against the CHF and GBP after the Swiss National Bank cut rates by -25bp yesterday and the Bank of England left rates unchanged but is expected to cut faster than the ECB in the future. For its part, the USD strengthened against its major rivals, buoyed by interest rate differentials.