Daily Note 30/04/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets


  • Macro: Markets closed flat to marginally higher yesterday with European equities modestly up, whilst in the US, the S&P 500 and the Nasdaq both finished in the green respectively. From an economic perspective, it’s a busy day in the Eurozone with GDP data for Q1 set to be released at 10.00 with a print of 0.2% expected YOY, confirming it exited a mild technical recession over the course of Q124. Furthermore, core CPI for the currency bloc is released at 10.00 and is expected to fall to 2.6% YoY from 2.9% prior which may serve to bolster expectations of June rate cut from the ECB. In the US, Consumer Confidence data is due at 15.00 and is expected to fall modestly in April on the back of higher gas prices.
  • Stock: There were earnings releases from Bank Of Ireland, Greencoat Renewables and Volkswagen. (Comments Attached)
  • Debt: Bond yields moved lower across the board yesterday as inline European inflation data didn’t change the view of a June rate cut.