- Macro: It was a mixed session for equity markets yesterday as the Eurostoxx600 moved higher, whilst the Nasdaq and the S&P500 were down respectively, as traders rotated out of big tech and into smaller cap names. The ‘Magnificent Seven’ had its worst day since 2022, whilst the Russell 2000 small cap index had its best day since November. Later today, out of the EU, France CPI is to remain flat YoY. In the US @ 13:30, we have more pricing data with June PPI expected to have increased MoM and @15:00 University of Michigan Sentiment is set to increase to 68.5 (68.2prior).
- Stock: We have provided an update on PayPal. (Comment Attached)
- Debt: Core bond yields fell following the weaker than expected CPI numbers out of the US, prompting speculation the Fed will cut rates in September.
Overview
Investment Solutions
Pension Solutions
SDIO
Application Forms – Intermediaries
Creating impact for your clients, their financial goals, and their future
Overview
Focused on your organisation, funding its growth, and unlocking its full potential
Debt Capital Markets
Probate Services
Dedicated to institutional wealth, stakeholder value, and a sustainable future
Overview
Investment Services
Stewardship
Supportive of you, your custodial vision, and your philanthropic goals
X