Daily Note 17/08/2023 – Market View: Day Ahead, Macro, Stocks, Debt Markets

17.08.2023

  • While the European markets again traded in tight ranges yesterday, all the major indices are zeroing in on critical levels that could provide support.
  • This morning, we are issuing a research note on Smurfit Kappa in which we are reiterating our Buy recommendation and increasing our price target to €45.20 from €42.65 previously.
  • With the Fed minutes indicating that further rate hikes may well be necessary, core bonds sold off yesterday driving an increase in rates, the US 10-year yield hitting a 15-year high.