2023-11-10 19:17:48
World stock markets take an almost forced break due to the unexpected speech with which the president of the Federal Reserve (Fed), Jerome Powell, lowered market expectations regarding the future of monetary policy.
For those who thought that interest rates in the US had peaked – with the debate more focused in recent weeks on when the cuts will begin – nothing could be further from the truth. Powell made it clear that the institution will not hesitate for a second to raise rates again if necessary to lower inflation to the 2% target.
And the firmness of his words, also warning that there may be inflationary spikes in the coming months, caused sharp falls on Wall Street on Thursday that the European stock markets picked up in the last session of the week.
One day after touching 9,400 points, the Ibex-35 lost 0.34% on Friday to 9,372 points. However, it was the European stock market that performed the best, and in the week it achieved a cumulative increase of 0.84%, the second consecutive increase.
In the session, Grifols led the falls with a decrease of more than 4.3%, followed by Colonial, which suffered a 3% collapse after presenting its results. With 24 stocks trading negative at the close, the increases in Indra (+2.1%) or Repsol (+0.85%) were of little use to close in the green.
The greatest tension has also been felt in the debt markets, especially in the US, where investors also had to deal with a poor result of a 30-year debt auction. Very long-term bonds that were not placed with the expected success.
The interest rate on the ten-year US bond in the secondary market, where these securities are traded, rose to 4.7%, still below the recent highs since 2007 of 5%, but well above the 4.5% that had been around this week.
Meanwhile, in the raw materials market, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 80.73 dollars, with an increase of 0.90%, while that of Texas rose by 0.87%, up to $76.40.
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