Daily Note 26/04/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets


  • Macro: It was a weak session for equity markets yesterday with the Eurostoxx600 falling from highs, whilst in the US, the S&P500 and the Nasdaq also both finished in the red, as hotter than expected inflation data out of the US forced traders to pull back bets on FED rate cuts. Looking ahead to today, investor attention will be drawn to the FED’s preferred measure of inflation, the Core PCE deflator, which is to be released at 13:30 and is forecast to have remained stable at 0.3% on a MoM basis whilst moderated to 2.7% YoY.
  • Stock: There were earnings releases from Microsoft, Alphabet, Kingspan, TotalEnergies and Newmont. (Comments Attached)
  • Debt: Bond yields moved higher across the board yesterday as the last mile of disinflation is proving to be more difficult than expected.