- Macro: US markets were weaker yesterday with the S&P500 down -1.59% and the Nasdaq -2.78% as Trump’s policy uncertainty, softer economic data, and sticky inflation led to traders taking risk off. Europe was also down with the Stoxx 600 broad index falling slightly. Later today, from the Eurozone, we get CPI and Unemployment data from Germany along with Ireland Retail Sales Volume. In the US, we get Wholesale Inventories, Personal Income and Spending figures, and Chicago PMI. From the Central Bank, Ramsden from the BOE will be speaking.
- Stock: We have updates on the FY24 results of Cairn Homes, CRH, and Aviva. (Comment attached)
- Debt: Core bond yields moved lower yesterday as prospects of a deal to end the Russia/Ukraine war depressed energy prices, possibly leading to lower inflation.
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