- Macro: US Markets rose yesterday with the S&P up +1.73% and the Nasdaq +2.22% on reports that US President Donald Trump’s tariffs will be more targeted than anticipated. Europe on the other hand underperformed as the Stoxx Europe 600 broad index fell -0.13%. Today in Europe, we get the German IFO survey results for March. Later in the US, we have Phili Fed’s Non-Manufacturing activity index, house price data, New Home Sales, Building Permits, the Conference Board Consumer Confidence and the Richmond Fed Manufacturing index for March.
- Stock: We have an update on Shell ahead of its bi-Annual Capital Markets Day later today. (Comment attached)
- Debt: Core bond yields moved higher in the US yesterday after the Fed’s Bostic said inflation may not return to 2% until 2027
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