Daily Note 20/06/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets


  • Macro: It was a mostly weak session for European equity markets yesterday with the Eurostoxx600, the CAC40 and the DAX all ending the day in the red, whilst the UK finished up on the back of an encouraging May CPI release in which headline inflation fell to the BOE’s 2% target. Markets in the US were closed for the Juneteenth public holiday Later today, in Europe, the Bank of England’s June interest rate decision will be made public at noon, when it is expected to hold its benchmark rate steady at 5.25%.The market will be keen to hear any signals around the timing of future rate cuts. Out of the US, we have Housing Starts for May @13:30 which is an indicator on the strength of the US housing market. We also have Initial Jobless Claims which are predicted to have ticked down modestly.
  • Stock: We have issued notes on CRH and Datalex alongside an update on IRES REIT. (Comments Attached)
  • Debt: Core bond yields were little changed on little news of note out of Europe, while the US market was closed for a public holiday.