Daily Note 02/08/2023 – Market View: Day Ahead, Macro, Stocks, Debt Markets


  • It was a risk off session for equities yesterday and looks to be starting in the red this morning as markets digest the Fitch Ratings move on US credit issued after the US market closed last night.
  • Before the market opened in the US yesterday Caterpillar issued much stronger than expected Q223 numbers where the beat was driven by both higher prices and greater volume. (Comment Attached)
  • Given Fitch’s downgrade of America to AA+ overnight, investors have been selling debt driving core bond yields up, particularly in the UK.