(CercleFinance.com) – The Paris Stock Exchange should continue to rise on Wednesday morning, driven by a rebound in technology stocks against a backdrop of an easing in long rates after their sudden rise in recent days.
Around 8:15 am, the ‘future’ contract on the CAC 40 index – February expiry – climbed 58 points to 7085 points, announcing a start to the session in the green.
The evolution of bond yields, which revives fears of an economic slowdown due to the increase in the cost of money, remains the main subject of concern for the markets.
European stock markets should nevertheless remain firmly anchored in positive territory this morning, thanks to some signs of appeasement on this front.
Yields on US Treasuries did indeed start to fall again last night, with the ten-year falling back towards 1.94% after hitting a new two-year high earlier at almost 1.96%. .
‘This lull brings some relief, but could be short-lived knowing that the US inflation figures will appear tomorrow’, warn this morning the teams of Danske Bank.
The rebound in European equities has so far benefited the financials and commodities sectors, often seen as the big winners from the re-emergence of inflationary pressures.
This morning, it is technology stocks that should stand out, thanks to the acceleration of the Nasdaq, which ended Tuesday’s session with gains of 1.6%, confirming a timid return of appetite for the risk.
In general, investors seem to want to maintain a form of optimism on the eve of the latest inflation figures in the United States.
Beware, however, as a higher-than-expected consumer price reading in January could prove negative for risk assets by increasing the likelihood of a severe tightening of the Federal Reserve following its meeting next month.
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