Daily Report

30 de Setembro de 2024
Financial Markets | daily report 30.09.2024
  • Lower-than-expected inflation data on both sides of the Atlantic drove financial markets' sentiment. Preliminary figures from Spain and France showed headline inflation below 2%, at 1.5% and 1.2% respectively. In the US, the PCE price index fell to 2.2% from 2.5%, making solid progress towards the Fed's target.
  • Interest rate futures markets increased the probability of a rate cut at the ECB's upcoming October meeting from 60% to 80%, and sovereign bond yields fell in line. Expectations for the Fed's next move remained at three further cuts in 2024, and treasury yields edged lower.
  • The main euro area equity indices posted modest gains, and in the US, investors rotated out of tech mega -caps into small caps, dragging down the major indices. Asian stocks extended their rally on the back of Chinese stimulus plans.
  • This week, the focus will be on further inflation data from the euro area and the US jobs report.