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Daily Note 20/02/2025 – Market View: Day Ahead, Macro, Stocks, Debt Markets

20.02.2025



  • Macro: It was a mixed session for equity markets yesterday, as the Eurostoxx600 fell modestly, whilst the S&P500 and the Nasdaq were both in the green. Stocks in the US closed at all-time highs despite signals that the Federal Reserve is in no rush to cut interest rates. From an economic standpoint today, we have Ireland CPI released at 11:00 and Eurozone Consumer Confidence at 15:00. In the US, at 13:30 we get the Philadelphia Fed Business Outlook and Initial Jobless Claims, followed by the US Leading Index at 15:00. From Central Banks we have Makhlouf and Nagel from the ECB, as well as Goolsbee, Musalem, Barr and Kugler from the Fed.
  • Stock: We have updates on FY24 results from Rio Tinto and IRES REIT. (Comment attached)
  • Debt: Core bond yields moved higher yesterday driven by unfavourable UK inflation data along with the anticipated increase in defence expenditure in Europe