Sovereign bond markets remained under pressure as investors grappled with persistent inflation risks, higher energy prices and uncertainty surrounding the AI-driven growth story. US Treasury yields stayed elevated while in Europe peripheral spreads widened further amid fiscal concerns, with French yields hitting the 5% threshold for the first time since 2002, while UK gilt yields rose after stronger-than-expected inflation data.
Crude oil remained volatile during yesterday's session, as markets weighed conflicting signals from a flare-up in Middle East tensions and the observed resilience in physical supply data, reinforcing expectations of "higher-for-longer" energy prices, amid intermitent supply. European natural gas prices shot up, after reported Hormuz attacks and low storage levels.
US and European equities ended higher, led by technology stocks, as strong earnings reports lifted market sentiment. In FX markets, the dollar was little changed ahead of next week's Fed meeting, with the euro remaining near $1.12.
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.