After two days they are remarkable references on the agenda, the week begins to cheer up. Investors have had the first relevant appointment on their agenda, the appearance of the president of the Federal Reserve, Jerome Powell, in which he has ruled out the possibility of negative rates at the moment, but does not deny that it may be an option in the future. That while they are pending the tug-of-war between the US and China, whose negotiating teams will meet again next week, as well as de-escalation plans and possible outbreaks.
Stock markets in Europe began the session with sales, which led to IBEX 35 to leave 1% up to 6,661 points in the half session after being the index the day before more rose thanks to the strong rebound of Inditex, greater than 5%. Today the textile was correcting more than 2%, although IAG (-5.8%) and Sabadell, who left more than 5% in the early stages, took a worse part.
The rest of the European indices moved with decreases of 2% in the case of the German dax, Meanwhile he Cac 40 Parisian was left more than 2.1%, in the same line as the Eurostoxx 50. For its part, Wall Street began with falls of 0.8% in the case of the Dow Jones Industrial, the S&P 500 0.7 % and the Nasdaq around half a percentage point.
Futures point to Fed rates going negative: why analysts don’t
Carla RaffinAnalysts believe that it is due to a technical rather than fundamental reason and that Powell, like the minutes of the meetings, have made it clear that there is no interest
At debt market, the Spanish risk premium rose slightly to 139 basis points, with the yield on the 10-year bond at 0.85%. For its part, the Italian differential also rose to 243 basis points.
At the macroeconomic level, the UK data bank at 8 in the morning has stood out, much better than expected, among which a drop of only 2% of GDP in the first quarter of the year stands out.