Daily Note 04/04/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

04.04.2024



  • Macro: It was a mildly positive session for equities yesterday as the EuroStoxx600, the Nasdaq climbed by 23bps and the S&P500 all ended the day modestly in the green, little moved by Fed Powell’s speech during the day. Today in the US we get more jobs market data with Initial and Continuing Jobless claims. We also have five Fed members (Harker, Barkin, Goolsbee, Mester and Kashkari) speaking. In Europe we have French, German, UK and Eurozone Composite and Services PMIs as well as Eurozone Producer Price information. And in the UK and Ireland we have New Car registrations and the Unemployment Rate, respectively.
  • Stock: AIB announced an EGM on the 02/05/2024 at 11am to hold a vote on a proposed contract for the off-market purchase by the Company of ordinary shares from the Minister for Finance for a total consideration of €999 million (being €1 billion less expected costs). (Comment Attached)
  • Debt: Core bond yields were little changed yesterday.
  • Research note issued: We have issued an updated research note on Supermarket Income REIT reiterating our BUY recommendation with an unchanged price target of 88p.