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Daily Note 18/07/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

18.07.2024



  • Macro: It was a weak day for equity markets yesterday with Europe falling, whilst, the S&P 500 and the Nasdaq both posted losses, led down by the semis space (SOX Semiconductor index was -6.8%) on potential increased restrictions on chip and semi equipment sales to China. From an economic standpoint today, the main items from the US are Jobless Claims @13:30, Philadelphia Fed Business outlook @13:30, and Leading index @15:00 which aims to predict future economic activity over the short term. In Europe, the main item is the ECB announcing its rate decision at 13:15.
  • Stock: We have issued a short update on Volkswagen. (Comment Attached)
  • Debt: Core bond yields consolidated yesterday ahead of today’s ECB meeting.