Daily Economic Research

29 September 2023

Friday, 29 September 2023

Macro Highlight :
The confirmation of GDP growth in the US for the 2Q23 stands at 2.1% QoQ(Cons: 2.1% QoQ, Prev: 2.0% QoQ), additionally the weekly release of Initial Jobless Claims recorded a figure of 204K (Cons: 215K, Prev: 202K) – marking a 7-month low – instilling optimism in the stock market with DJIA +0.35%, Nasdaq +0.83%, and S&P 500 +0.59%. Today, the developments in the U.S. budget deal, along with the release of the PCE Price Index in the U.S., are anticipated to be the primary drivers of sentiment in the global market. This is in addition to the release of the GCP in the UK and preliminary CPI inflation in the EU.

On Wednesday (27/9) the yields of SUN exhibited decoupling movements, ranging from -2.4 bps (1M tenor) to +2.3 bps (1Y tenor). Today, developments in the regional and global context are expected to influence sentiment in the domestic market.

We estimate the 10-year SUN yield down and be between 6.70% and 6.90% for today (29/9).

KBVS Research Team


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