- As investors assessed economic vulnerabilities and reduced expectations for inflation and interest rate hikes, the technology sector helped drive a rise in equities on Friday.
- The benchmark is expected to see a minor comeback this week as the Stoxx Europe 600 increased by 1.5%. After the main US stock indicator closed around session highs on Thursday, up more than 3% in three days, the tech-heavy NASDAQ 100 futures jumped 1% and S&P 500 contracts gained 0.9%.
- Investors are considering what would happen next if an economic downturn materialised. One scenario includes easing pricing pressures, which would allow central banks to slow the rate of interest rate increases. In testimony to legislators this week, Federal Reserve Chair Jerome Powell sharpened his resolve to curb inflation after admitting that a recession might be the price to pay.
- Russian finance ministry: It transferred coupon payment totalling 8.5 bln rbls on dollar-denominated Eurobond issue maturing in 2028 to national settlement depository.
- IFO Economist: Despite increased uncertainty, there are no signs of a recession at the moment.
- Traders wager on less than 150 basis-points of ECB rate hikes by the year-end.
