📆 Friday, September 13
► European markets rose, with the Stoxx 600 index gaining 0.35%. Investors reacted (cautiously) to the European Central Bank's decision to cut interest rates again on Thursday, as expected, although the ECB did not provide a clear strategy going forward, saying it will continue to act in a data-dependent manner. The inflation rate in France fell to 1.8% in August, its lowest level since July 2021. The 10-year yield in Germany fell by 2 basis points to 2.14%, reflecting a cautious bond market and the general expectation that the ECB will maintain its current course.
► US stock futures pointed to slight gains, with the Nasdaq 100 and the S&P 500 little changed at +0.1% after two strong sessions. US Treasury yields dropped as investors anticipated the Federal Reserve’s upcoming policy decision, with the two-year yield falling 6 basis points. Data showed an uptick in US producer prices, but unemployment claims also rose slightly, fueling concerns about a weakening labor market. Markets are expecting interest rate cuts of around 33 basis points next week, due to concerns about the labor market and the latest inflation data, which was slightly higher than expected but not considered so high that the Fed should focus on acting against inflation.
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