European stock markets were up at the start of the session (+0.29% Dax, +0.06% Cac40, +0.12% Ftse100, despite higher than expected British inflation, and +0.50% at 23,113 points on the Ftse Mib) in the wake of Wall Street (futures on the Dow Jones -0.06% and on the S&P500 -0.06%) and on the Asian stock markets. On August 16, two big names in wholesale distribution, Wal-Mart and Home Depot, arrived in the United States, encouraged by signs of changing consumer confidence.
Ahead of the Jackson Hole symposium scheduled for next week, the minutes of the meeting will be released at 8 p.m. in late July, when the Federal Reserve once more raises interest rates by three-quarters of a point. Investors want to understand how the US Federal Reserve will decide in September.
Evercore ISI: Jerome Powell will definitely look hawkish in Jackson Hole
Evercore ISI experts don’t believe Federal Reserve Chairman Jerome Powell will signal a change in monetary policy stance at the upcoming Jackson Hole meeting, though signs of slowing inflation prompt investors to expect a real deal.
“We think Powell will argue that monetary policy is entering a more data-driven phase as it moves into hawkish territory and the Fed is open to how this cycle might unfold, but the FOMC is focused heavily on the restoration of price stability. , he believes the latest data generally indicates that he is still in the early stages of this process and that he is committed to staying the course and getting the job done,” Evercore ISI experts said, adding that Powell will appear “extremely warmongering”.
Central Bank of New Zealand raises interest rates once more
Meanwhile, the Reserve Bank of New Zealand launched its seventh straight interest rate hike of half a percentage point to 3%, signaling a more aggressive path to tackling inflation going forward. .
The 10-year BTP yield falls but remains above 3%
Domestically, tensions within the Democratic Party are on the lists, while the national coordinator of Forza Italia, Antonio Tajani, said in an interview that there would be continuity in the PNRR with the Draghi government. The 10-year BTP yield fell to 3.127%, with the Bund spread narrowing slightly to 216 basis points following a session that saw yields rise following a rally in August amid recession fears. (All rights reserved)
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