- Macro: Equity markets had a broadly positive day yesterday with the S&P500 up +2.05% and the Nasdaq up +2.47%. Europe also rose but by less with a +0.33% increase. Economic releases today include French Consumer Spending, Payrolls and PPI. From Germany, we get Unemployment data. Ireland releases its Retail Sales figures for April, and the ECB announces 1- and 3-year CPI expectations. In the US, we get MBA Mortgage Applications, Richmond Fed Manufacturing Index, and the Dallas Fed Services Activity. From the Central Bankers, the Fed releases its FOMC meeting minutes from the latest meeting and Kashkari will be speaking.
- Stock: We have updates on Rio Tinto and Dalata. (Comment attached)
- Debt: Core bond yields moved lower in the US yesterday despite higher-than-expected consumer confidence data.
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