- Macro: US markets rose slightly yesterday with the S&P500 and the Nasdaq moved higher as the recent rally showed signs of running out of steam. Also, in Europe, the Stoxx 600 broad index had a positive day rising slightly in spite of continued political uncertainty in France. Today is a busy economics data day. Later this morning, we have French, German, UK and Eurozone Composite and Services PMIs. EU PPI is released at 10am, followed by Ireland’s unemployment rate. Important US releases include Mortgage Applications, ADP Employment, Composite and Services PMIs, ISM services, Factory Orders, Durable Goods Orders, as well as the Fed’s Beige book release. Subdued readings are generally expected across the board.
- Stock: We have updates on our recent meeting with Glanbia’s CEO along with Rio Tinto’s guidance for 2025. (Comment attached)
- Debt: Core bond yields moved higher in the US yesterday following positive Jolts Job Openings data.
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