Report
EUR 100.00
For Business Accounts Only
The market sees Jackson Hole as a clear risk
European stock markets kicked off the week with losses of more than -1.5% (except the IBEX) in a clear episode of risk aversion, awaiting the message to be given by the Fed in its Jackson Hole conference regarding the next moves it will make on interest rates (the market believes the Fed still has work to do to fight inflation). Thus, in the Euro STOXX, all the sectors were in the red, with Energy and Telecoms the best relative performers, whereas the biggest drops came in Banks and Autos. On the macro side, in the US we only learned the Philadelphia Fed index, which beat expectations, but it was not enough to drive the session. Separately, China continued to try to stabilise the real estate market with a special loan package for troubled developers worth US$ 29 Bn.
What we expect for today
European stock markets would open with slight losses in view of the risk the Fed will not soften its monetary policy and the doubts in Asia to try to bring the real estate market under control. Currently, S&P futures are down -0.27% (the S&P 500 ended down -0.51% vs. the European closing bell). Volatility in the US rose (VIX 23.0%). Asian markets are falling (China’s CSI 300 -0.54% and Japan’s Nikkei -1.22%).
Today in the euro zone we will learn August’s preliminary PMIs (drops expected) and in the US July’s new home sales and August’s Richmond manufacturing index.
IBERIAN DAILY 23 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: IAG.The market sees Jackson Hole as a clear risk
European stock markets kicked off the week with losses of more than -1.5% (except the IBEX) in a clear episode of risk aversion, awaiting the message to be given by the Fed in its Jackson Hole conference regarding the next moves it will make on interest rates (the market believes the Fed still has work to do to fight inflation). Thus, in the Euro STOXX, all the sectors were in the red, with Energy and Telecoms the best relative performers, whereas the biggest drops came in Banks and Autos. On the macro side, in the US we only learned the Philadelphia Fed index, which beat expectations, but it was not enough to drive the session. Separately, China continued to try to stabilise the real estate market with a special loan package for troubled developers worth US$ 29 Bn.
What we expect for today
European stock markets would open with slight losses in view of the risk the Fed will not soften its monetary policy and the doubts in Asia to try to bring the real estate market under control. Currently, S&P futures are down -0.27% (the S&P 500 ended down -0.51% vs. the European closing bell). Volatility in the US rose (VIX 23.0%). Asian markets are falling (China’s CSI 300 -0.54% and Japan’s Nikkei -1.22%).
Today in the euro zone we will learn August’s preliminary PMIs (drops expected) and in the US July’s new home sales and August’s Richmond manufacturing index.
Underlying
International Consolidated Airlines Group SA
International Airlines Group is an international scheduled airline and global premium airlines. Co.'s principal place of business is London with significant presence at Heathrow, Gatwick and London City airports.
Provider
Sabadell
Research Department
Other Reports on these Companies
Other Reports from Sabadell
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.