The markets in London rose by 0.46% while the UK’s unemployment rate stood still at 4.2% over the last three months. Meanwhile, in Germany, markets edged up by 0.08% and wholesale prices decreased by 3.6% year-on-year in November, a slight improvement from the 4.2% drop in October – a little something to toast to.
Rounding out the scene, the pan-European Stoxx 600 (STOXX) showed a mild 0.08% increase, with household goods enjoying an upward journey while telecoms took a tumble.
With bated breath, investors waited for the bellwether U.S. inflation numbers against the backdrop of an energetic bond market. The U.S. 10-year Treasury yield perked up by 4 basis points to 4.20%, while Germany’s 10-year yield lounged lazily with a 3 basis points decrease to 2.24% – and across the channel, the UK’s 10-year yield napped contently, dropping 10 basis points to 3.98%.
As traders juggled currencies (EUR:USD) (GBP:USD) (CHF:USD) and ETFs (EWG), (GF), (EWI), the session wrapped up with a game of numbers and anticipation.
All eyes now turned toward the U.S., waiting to see just what the big reveal of inflation would bring. A gripping tale that shakes the very foundation of the financial world – a real-life soap opera, if you will. How will the markets respond to the cliffhanger of the day?