Daily Note 07/02/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

07.02.2024

  • Macro: Markets moved marginally higher yesterday with European equities climbing 56bps whilst in the US, the S&P 500 was up 23bps with the Nasdaq broadly flat as investors digested a combination of cautious central bank commentary in the US and slightly better macro data.
  • Stock: Smurfit Kappa issued a strong set of FY23 numbers this morning which beat the market’s expectations by 2% at the EBITDA line, driven by outperformance in the Americas.
  • Debt: Core bond yields moved lower yesterday on the back of solid demand in the US three-year auction.