Daily Note 22/09/2023 – Market View: Day Ahead, Macro, Stocks, Debt Markets
- Both European and US markets traded lower on Thursday as investors digested the latest central bank policy announcements that suggest interest rates will stay higher for longer.
- This morning, the Competition and Markets Authority (CMA) in the UK announced that the revised terms of the proposed Microsoft/Activision Blizzard deal provisionally address its concerns which could open the door to the deal’s clearance.
- US Treasuries declined yesterday, with yields rising and 10-year touching its highest level since October 2007 after the Fed’s ‘dot-plot’ signalled only two rates cuts in 2024 relative to market expectations of three to four.