European bond markets had started the session well, easing by -3Pts on average, but were unable to recover what they had lost the previous day.
Yields finally eased by -1.5pts on Bunds (2.3580%) and OATs (2.8370%), but tightened symmetrically by +1.2pts on US T-Bonds to 4.2620%.
Italian BTPs fared best with -4.5pts to 3.65%, while Spanish Bonos erased -3.5pts to 3.171%.

In the US, investors took note of the Conference Board's durable goods orders and consumer confidence figures.
The latter deteriorated very slightly in March: the confidence index calculated by the employers' organization came out at 104.7 this month, compared with 104.8 in February.

While the consumer judgment component measuring the current situation did indeed improve to 151, compared with 147.6 last month, the expectations component fell sharply to 73.8 from 76.3 in February.

The Commerce Department reports US durable goods orders up 1.4% last month on the previous month, following a sequential drop of 6.9% in January (revised from an initial estimate of 6.1%).

However, excluding the usually erratic transportation sector, where orders rebounded by 3.3% in February, US durable goods orders rose by just 0.5% over the period.

Other important indicators will follow, such as the latest estimate of US fourth-quarter GDP due on Thursday, but the highlight of the week will be February's household income and spending statistics.

This publication, whose price component is the Federal Reserve's preferred measure of inflation, will help refine forecasts for the Fed's forthcoming decisions.

In Europe this time, investors this morning took note of France's public deficit for the full year 2023. This stands at 154 billion euros, or 5.5% of gross domestic product (GDP), after 4.8% in 2022 and 6.6% in 2021, according to data released this morning by Insee.

Revenues rose by just 2% last year (after +7.4% in 2022), as the rate of compulsory deductions fell to 43.5% of GDP, while spending increased by 3.7% (after +4% in 2022).



Copyright (c) 2024 CercleFinance.com. All rights reserved.