Fixed Income Market Overview

In the U.K., inflation eased to 3.2% from 3.4% in March, slightly above economists’ expectations, with food prices lowering the headline rate and motor fuels raising it. The core figure, excluding energy and food, came in at 4.2%, above projections, while services inflation declined to 6%, still above expectations. Despite the higher-than-expected figures, BOE Governor Andrew Bailey sees evidence that higher interest rates are curbing price rises. Market pricing shifted, with investors now anticipating a rate cut in September or November, rather than June. The British pound strengthened following the announcement, and U.K. Finance Minister Jeremy Hunt welcomed the news as the country gears up for a national election.

Meanwhile, Federal Reserve Chair Jerome Powell stated that despite solid economic growth, inflation has not yet reached the central bank’s 2% goal, suggesting interest rate cuts are unlikely in the near future. Powell highlighted the need for further progress in inflation before adjusting current policy. The Fed has maintained its benchmark interest rate between 5.25%-5.5% since July 2023. Recent inflation data has been higher than expected, with the consumer price index showing a 3.5% annual rate in March. Powell emphasized the Fed’s cautious approach, stating that policy adjustments will depend on sustained progress in inflation. Financial markets have adjusted their expectations for rate cuts, with traders now anticipating one or two reductions starting in September, compared to earlier expectations of six or seven cuts.

icon-oneBiden Wants to Triple China Tariffs on steel, aluminum imports.
icon-twoApple will ‘look at’ manufacturing in Indonesia, CEO Cook says, as China diversification push continues.
icon-threeLVMH Shares rise after luxury giant’s Q1 sales offer element of reassurance.
icon-fourMorgan Stanley, HSBC cutting Asia investment banking jobs on China deals slowdown.
icon-fiveTesla Asks shareholders to vote again on Musk’s $56 Billion Payout.


Major Indicies

Symbol Price Change %Change
DJIA 37,753.31 -45.66 -0.12%↓
NASDAQ 17,493.62 -220.04 -1.24%↓
SNP 500 5,022.21 -29.20 -0.58%↓
NIKKEI 37,961.80 -509.40 -1.32%↓
VIX 18.21 -0.19 -1.03%↓
HIS 16,251.84 2.87 0.02%↑


Name Yeild CHG
US 10-YR 4.59% -0.08
US 30-YR 4.71% -0.06
US 5-YR 4.62% -0.08
JPN 10-YR 0.89% 0.01
UK 10-YR 4.26% -0.04

Futures & Commodities

Name Last Change %Change
WTI CRUDE 82.69 -2.67 -3.13%↓
NAT GAS 1.712 -0.020 -1.15%↓
GOLD 2,388.40 -19.40 -0.81%↓
SILVER 28.40 0.02 0.08%↑
COPPER 4.340 0.036 0.84%↑
Data and Content as of Previous Closing Day. Source: MarketWatch

Equity Market Overview

ASML Holding

ASML shares fell 4.5% as sales missed forecasts, but the company maintains its fullyear outlook. Net sales of 5.29 billion euros and profit of 1.22 billion euros were slightly below expectations. Despite a 4% drop in machinery bookings, ASML remains pivotal in global chip production with its lithography machines. Analysts cite economic uncertainty and product transitions for the underperformance. ASML anticipates stability in 2024, expecting a stronger second half amid industry recovery and increased investments.


Adidas shares surged 8.2% as the company raised its full-year guidance, anticipating mid-to high-single-digit revenue growth and a 700-million-euro operating profit for 2024. The firm expects additional sales of around 200 million euros from selling off its Yeezy inventory. Despite currency effects impacting profitability, Adidas’ first-quarter operating profit soared to 336 million euros. Analysts view the company’s momentum positively, driven by Yeezy sales and upcoming sporting events partnerships, making Adidas a standout in the sportswear sector.

United Airlines

United Airlines shares surged 10% as the company provided an optimistic profit forecast for the second quarter, despite a $200 million setback from Boeing’s safety crisis. United’s strong first-quarter results, exceeding expectations post-Boeing 737 MAX9 grounding, signaled robust travel demand, boosting shares of rivals Delta Air Lines and American Airlines. CEO Scott Kirby expressed confidence in Boeing’s 787 Dreamliner safety amid regulatory scrutiny.

Latest Update: Apr 18, 2024