- Macro: Equity markets were mixed yesterday as the Eurostoxx600 fell, whilst in the US, the S&P500 and the Nasdaq both finished higher with political developments, dovish Fed commentary and the start of the Q2 earnings season each driving investor sentiment. From an economic perspective today, the main releases of note are the German ZEW survey, which gauges investor sentiment, prints for July, when both “Expectations” and “The Current Situation” are expected to decline relative to June. Retail Sales in the US are expected to have fallen MoM in June. From the ECB and the FED, we will have commentary from Villeroy and Kugler.
- Stock: Overnight, Rio Tinto issued it Q2 2024 Production results. (Comment Attached)
- Debt: It was a mixed day for core bond yields as dovish commentary from Powell increased US rate cut expectations .
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