- Macro: Equity markets had a mixed session to cap-off September yesterday, as the Eurostoxx600 moved modestly lower, whilst the S&P500 and the Nasdaq were both up slightly, marking the fourth consecutive month of gains in the S&P500, its best run since 2021. From an economic perspective today, data from the Euro-Area is likely to show that headline inflation fell below the ECB’s 2% target for the first time since 2021 in September, providing further support for a rate cut in October. We will also have manufacturing PMI releases out of the Eurozone, France, Germany, the UK and the US.
- Stock: We have updates on Roche following its updated growth ambitions. (BUY PT: CHF295).
- Debt: European bond yields were little changed yesterday on positive inflation data and dovish Central Bank commentary.