- Macro: Equity markets posted gains across the board yesterday, with the Eurostoxx600 up modestly after the ECB cut rates in line with expectations. In the US, the S&P500, and the Nasdaq also both moved higher in a busy day of corporate earnings. In economic news, the key release of the day will be the Fed’s preferred inflation measure at 13:30, core PCE, which is expected to remain steady at 2.8% in December. There will be US Personal Income and Spending data released at the same time followed by the MNI Chicago PMI later in the day. From central bankers, the Fed’s Bowman will speak and so will Cipollone from the ECB. The ECB will also publish its 1- and 3- year CPI expectations.
- Stock: We have updates on Greencoat Renewables, Apple, Visa, and Caterpillar (Comment attached)
- Debt: Core Bond yields fell in Europe yesterday after the ECB cut rates by 25bps.