- Macro: It was a positive session for equity markets yesterday, as the Eurostoxx600, the S&P500, and the Nasdaq each made gains, as a benign US inflation print alleviated some concerns ahead of the Fed’s upcoming meeting. Among the notable movers during the day was Broadcom, which rose by 6% on reports it was working on an AI chip with Apple. The company reports its Q4 numbers after-market tonight. From an economic standpoint today, the main point of note comes out of Europe, when the ECB is expected to cut rates by 25bps at its December meeting. Investors will pay close attention to Lagarde’s subsequent press conference for any indications future policy. We will also have Irish CPI data, as well as weekly initial jobless claims and PPI final demand out of the US.
- Stock: We have an update on Bank of Ireland as the UK Supreme Court has agreed to hear the appeal of Close Brothers and FirstRand in the car finance commission payments case. (Comment attached)
- Debt: Core bond yields moved higher in the US yesterday despite the in-line November CPI release.
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