Daily Note 12/10/2023 – Market View: Day Ahead, Macro, Stocks, Debt Markets

12.10.2023

  • It was a largely positive day for risk assets yesterday with European and US markets all finishing in the green, with expectations on the future path of monetary policy continuing to be the main driver of market direction.
  • In its long-running dispute with the IRS (original audit in 2012) Microsoft yesterday flagged that it has received a demand for an additional payment of $28.9bn in back taxes plus penalties and interest to the tax years 2004 to 2013.
  • US treasury prices continued to rise and yields fell on the back of dovish central bank commentary.