Daily Note 17/07/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

17.07.2024



  • Macro: Equities were, again, mixed in yesterday’s session, as the Eurostoxx600 dropped for the second consecutive session of the week, whilst in the US, the S&P500 and the Nasdaq both made gains. Additionally, small caps were notable outperformers with the Russell 2000 climbing for the fifth consecutive session, the best run in the index since May 2020. Later today, we have Kier Starmer’s “King’s Speech” at 11:30, which is expected to shed more light on the new government’s policies. Out of the US, MBA mortgage applications are released at 12. At 13:30, building permits and housing starts are both forecast to have increased modestly in June, then at 14:15, industrial production for June is expected to have further slowed down from May. Finally, at 7pm, the FED’s Beige book will provide investors with an overview of the current economic situation.
  • Stock: We have issued updates on Total Energies and Roche Holdings. (Comment Attached)
  • Debt: Core bond yields continued to fall on further rate cut expectations.