Eurozone sovereign yields declined, while short-dated US Treasury yields edged higher after the University of Michigan survey showed a weak consumer sentiment and a rise in inflation expectations. In parallel, Fed Governor Waller argued that the Fed should remove its “easing bias” from the policy statement, reinforcing expectations of a less accommodative stance.
Equity markets advanced on both sides of the Atlantic, with the S&P 500 posting its eighth consecutive weekly gain. Asian indices posted some of the largest daily gains, led by tech companies with strong exposure to AI.
In currency markets, the dollar strengthened modestly against its main peers, underpinned by expectations of higher US interest rates. In commodities, Brent crude prices rose slightly after a volatile session, while the European natural gas benchmark (TTF) fell.