Daily Note 18/06/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

18.06.2024



  • Macro: It was a solid day for equities yesterday with both the US and Europe up. The EuroStoxx600 finished in the green, whilst the Nasdaq and S&P500 closed higher respectively, as several large technology companies drove stocks to all-time highs. Later today, in Europe, we have the German ZEW survey which will give us an insight into investor sentiment on the outlook of the German economy, an increase is expected on the previous months reading. We also have E CPI where an increase YoY is expected. Out of the US later, we have Retail Sales date which will indicate the strength of US consumer spending where a minor slowdown is expected.
  • Stock: Shares in Flutter moved 6% higher yesterday after it emerged that increased gaming taxes are not currently on the agenda for the upcoming budget in New Jersey. (Comment Attached)
  • Debt: Core bond yields moved marginally higher following a strong run last week