Daily Report

31 de Outubro de 2024
Financial Markets | daily report 31.10.2024
  • Investors digested a raft of economic data released during yesterday's session, including better-than-expected 3Q euro area GDP (+0.4% qoq) and a mild slowdown in 3Q US GDP (+0.7% qoq). In Spain, 3Q GDP rose by +0.8% qoq while inflation during October picked up to 1.8% yoy in October (1.5% last month).
  • Following all these data releases, markets reassessed their expectations for interest rate cuts, slightly reducing the number of cuts by the end of 2025 in the euro area and the US. As a result, sovereign bond yields rose on both sides of the Atlantic, particularly in the policy-sensitive 2-year benchmarks, and equity markets closed lower.
  • Elsewhere, Brent crude prices recovered up to $72.6 after data showed US inventories fell unexpectedly last week and on reports that OPEC+ may delay a planned increase in oil production.
  • This morning, the BoJ held interest rates steady at 0.25%, as expected.