Yesterday's session was dominated by the news that the Trump administration will impose harsh sanctions on two large oil companies in Russia, in an attempt to pressure Moscow into negotiations over the war in Ukraine. As a consequence, Brent prices rose +5% to $66/barrel and sovereign yields advanced globally, especially on the long side of the curve.
In currency markets, the yen continued its depreciation path as investors consolidated expectations of a fiscal expansionary outlook in Japan following the election of conservative Sanae Takaichi as the new Prime Minister of the country. The euro strengthened against its major peers after days of depreciation amid political uncertainty.
Stock markets had another choppy session in Europe and the US, with most indices edging higher, as no relevant news or data were released yesterday. The US government has been shut down for 24 days now, still the data for US inflation in September will be released today exceptionally.
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.