at 1.0759.Despite experiencing another turbulence, the US equities market is poised to finish the week positively. Deutsche Bank’s stock experienced a sharp decline due to concerns over the possibility of default, reflected in a 220 basis point increase in Credit Default Swaps . Although this harmed Wall Street at the beginning of the session, investors appeared to dismiss these fears and instead speculated that the Federal Reserve would lower interest rates in 2023.
St. Louis Fed President James Bullard expressed that rates should be raised further to reach the 5.50%-5.75% range, which would mean an additional 75 bps of rate hikes on top of the Fed’s recent increase of 4.75%-5.00%. Meanwhile, Atlantacommented that the decision made in March was not easy, as there was a lot of debate and it was not a simple choice.
In the Euro area , March’s S&P Global PMIs were positive, except for the Manufacturing component, which remained in recessionary territory. policymakers crossed news wires, led by the ECB’s President Christine Lagarde, saying there’s no trade-off between price and financial stability.
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