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All eyes on the Fed meeting
The European session improved as it progressed, and with the temporary bullish opening on US markets, European markets reeled in the losses and closed with mixed results. In the Euro STOXX, almost all sectors closed with gains, led by Autos and Chemicals, with Real Estate and Pharma being the worst performers. On the macro side, in the US, September’s NAHB real estate confidence index fell more than expected. In Japan, August’s inflation climbed above expectations, both general inflation (to 3.0% YoY) and core inflation (2.8% YoY), which would back a change in monetary policy in the next few months. In China, the PBoC kept 1-year and 5-year interest rates for loans unchanged at 3.65% and 4.3%, respectively.
What we expect for today
European stock markets would open with gains of around +0.5%, with harder hit cyclical companies faring slightly better. Currently, S&P futures are up +0.23% (the S&P 500 ended +1.03% yesterday vs. the European closing bell). Volatility in the US dropped (VIX 25.76). Asian markets are climbing (China’s CSI 300 +0.3% and Japan’s Nikkei +0.4%).
Today in the US we will learn building permits and second-hand home sales. As for debt auctions, the Spanish Treasury announced its 4th syndicated bond of 2022 with a new 20Y bond.
IBERIAN DAILY 20 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: GRIFOLS.All eyes on the Fed meeting
The European session improved as it progressed, and with the temporary bullish opening on US markets, European markets reeled in the losses and closed with mixed results. In the Euro STOXX, almost all sectors closed with gains, led by Autos and Chemicals, with Real Estate and Pharma being the worst performers. On the macro side, in the US, September’s NAHB real estate confidence index fell more than expected. In Japan, August’s inflation climbed above expectations, both general inflation (to 3.0% YoY) and core inflation (2.8% YoY), which would back a change in monetary policy in the next few months. In China, the PBoC kept 1-year and 5-year interest rates for loans unchanged at 3.65% and 4.3%, respectively.
What we expect for today
European stock markets would open with gains of around +0.5%, with harder hit cyclical companies faring slightly better. Currently, S&P futures are up +0.23% (the S&P 500 ended +1.03% yesterday vs. the European closing bell). Volatility in the US dropped (VIX 25.76). Asian markets are climbing (China’s CSI 300 +0.3% and Japan’s Nikkei +0.4%).
Today in the US we will learn building permits and second-hand home sales. As for debt auctions, the Spanish Treasury announced its 4th syndicated bond of 2022 with a new 20Y bond.
Underlying
Grifols (GRF SM)
Provider
Sabadell
Research Department
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