Reply To: Traders Market Weekly: Rates, Banks and Herd Mentality

#73391
Truman
Participant

Major European indices trade just below their flat lines while Italy’s MIB (+0.4%) outperforms with energy and financials contributing to the strength.

STOXX Europe 600: -0.3%
Germany’s DAX: -0.1%
U.K.’s FTSE 100: -0.4%
France’s CAC 40: -0.4%
Italy’s FTSE MIB: +0.4%
Spain’s IBEX 35: -0.2%

European Central Bank policymaker Scicluna mentioned the possibility for a rate cut in April, but most other ECB officials have pointed at June as the most likely time for the initial cut.

Germany
Standard & Poor’s affirmed Germany’s AAA rating with a Stable outlook

UK
Fitch affirmed the U.K.’s AA- rating and raised the outlook to Stable from Negative.

Spain
February PPI -8.2% yr/yr (last -3.9%) and February Consumer Confidence 78.5 (last 78.6)