Daily Note 04/01/2023 – Market View: Day Ahead, Macro, Stocks, Debt Markets

04.01.2023

  • A mixed session for risk assets yesterday with the UK and Europe finishing in the green, however, US markets were softer with the Dow unchanged but the NASDAQ slightly down due to weakness in Apple and Tesla.
  • Ryanair reported December traffic figures this morning, the low-cost carrier flew 11.5m passengers, an increase of 21% year-on-year and 2.7% over November. Load factors were 92% compared to 81% in December 2021. We rate Ryanair a buy with a €19.44 price target.
  • A significant move lower in core bond yields yesterday