Daily Note 22/06/2023 – Market View: Day Ahead, Macro, Stocks, Debt Markets

22.06.2023

  • Both equity and bond markets came under selling pressure yesterday, as Fed Chair Jerome Powell guided for further rate rises and UK inflation was higher than expected.
  • After a number of profit warnings from peers, which have impacted Smurfit Kappa’s share price recently, it is reassuring that another peer, DS Smith, this morning reported FY23 numbers (year-end April) ahead of market expectations.
  • Sovereign bond yields increased across the board yesterday.