Daily Note 13/06/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

13.06.2024



  • Macro: It was a strong day for equities yesterday with both the US and Europe up. The EuroStoxx600 finished higher, whilst the Nasdaq and S&P500 both closed at all time highs, as markets reacted positively to lower CPI and took the Fed’s inaction on rates as expected. Later today, in Europe, we have EU industrial production @10:00 which will give us an insight into the overall health of the EU manufacturing industry. Then we have Irish CPI out at 11:00. In the US, we have more pricing and jobs data with US PPI and Jobless claims released at 13:30.
  • Stock: FedEx announced on June 12, 2024, that it is planning to reduce its workforce in Europe by 1,700~2,000 employees. (Comment Attached)
  • Debt: Core bond yields moved lower off the back of the lower than expected CPI print out of the US.