Daily Note 09/08/2023 – Market View: Day Ahead, Macro, Stocks, Debt Markets

09.08.2023

  • It was a risk off day yesterday, driven by weaker than expected economic data out of China and a surprise windfall tax on banks announced in Italy.
  • This morning, Flutter Entertainment released a strong set of H1 results in which group revenue of £4.8bn and Adj. EPS of 237p both came in ahead of expectations. (Comment Attached)
  • Given better than expected demand for the US short-term debt issued yesterday, demand for longer-term core bonds saw yields tick down.