- Macro: Markets were mixed yesterday, with European equities down slightly, whilst both the S&P 500 and the Nasdaq jumped by 2.53% and 2.95% respectively, as US stocks rallied on the back of a Trump victory. In the day ahead, in Europe, Ireland CPI is to be released at 11:00 and the BOE rate decision at 12:00, where a 25bps cut is expected. In the US, Initial Jobless Claims at 13:30 are expected to increase, but all eyes will be on the Fed’s interest rate decision at 19:00.
- Stock: CRH reported solid Q3 numbers and reaffirmed full year guidance. We have increased out price target to £89. (Comment attached)
- Debt: Bond yields in the US moved higher yesterday driven by the ‘Trump Trade’. In Europe yields were mixed following a range of economic data releases.
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