Daily Note 15/06/2023 – Market View: Day Ahead, Macro, Stocks, Debt Markets

15.06.2023

  • Global stock markets traded cautiously higher yesterday with attention firmly focused on a series of central bank meetings, commencing with the US Federal Reserve’s widely expected decision to pause rates yesterday after 10 consecutive hikes since March 2022.
  • VW outlined a new efficiency program yesterday, entitled “ACCELERATE FORWARD”, which aims to deliver a sustainable increase in earnings of €10bn in 2026 and a 6.5% return on sales for the core VW brand. (Comment Attached)
  • Bond yields were little changed yesterday.