Daily Note 16/04/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets


  • Macro: Equities had a mixed start to the weak yesterday with the Eurostoxx600 ending in the green, whilst in the US, the Nasdaq (-179bps) and the S&P500 (-120bps) both finished the day in the red, as hopes for a containment of the conflict in the Middle East were dampened. Looking ahead to today, investor attention will be drawn to the German ZEW survey at 10am which will likely indicate that business conditions improved in the month of April. Then out of the US at 14:15, industrial production in the region is set to have expanded by 0.4% MoM in March.
  • Stock: Yesterday, IDC data showed Apple’s smartphone shipments declined 9.6% year-over-year in Q1 2024 and its market share declined from 20.7% to 17.3%. As well as demand pressures, Apple is facing several challenges. (Comment Attached)
  • Debt: Core bond yields were mixed yesterday as traders weighed geopolitical concerns with supportive economic data.