Daily Report

29 de Maio de 2024
Financial Markets | daily report 29.05.2024
  • Investors traded cautiously ahead of key inflation data released later this week. Meanwhile, this month's Conference Board consumer index in the US rose amid optimism about the labor market. The ECB's consumer expectations survey showed 1-year and 5-year inflation expectations edged down 0.1 pp each to 2.9% and 2.4%, respectively.
  • Slightly hawkish comments from an ECB official (Holzmann) who only sees two interest rate cuts in 2024, and from the Fed's Kashkari, who remarked that interest rate hikes are not off the table, sent sovereign bond yields higher on both sides of the Atlantic, more so on the long end of the curves.
  • Equities were mixed, paring losses in the euro area except for the financial sector, and mainly flat in the US except for thetechnology sector.Brent prices rose above $84/barrel ahead of OPEC's next June meeting where current production cuts are expected to be extended.