The Paris Stock Exchange was preparing to open positive on Monday, a little more confident in the future, even if the day’s session still has a scent of Ascension Bridge due to the closure of American markets.
The futures contract for the star CAC 40 index advanced by 0.80% about forty minutes before the opening of the session. Over the whole of the past week, he signed his best performance since mid-March (+3.67%), allowing him to return 6,515.75 points.
The trend was the same on Wall Street, where the S&P500 and the Dow Jones had their first positive week in two months.
The Parisian coast is recovering a little after several difficult weeks, due to fears about global growth caused by high inflation and the policies of central banks to counter it, which have caused interest rates on government bonds to jump, as well as by the war in Ukraine or the confinements in China.
It is probably no coincidence that the current rebound in equity markets appears to be set against a backdrop of a weaker US dollar and falling US Treasury yields, after both hit during the month of May levels not seen in years, observes Michael Hewson, analyst at CMC Markets.
Investors are trying to detect particular signs of a deceleration in inflation, interview for the United States on the sidelines of the second estimate of gross domestic product on Thursday, and the PCE price index on Friday.
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Publications on the subject are the agenda in Europe for Monday, especially in Germany, and Tuesday, for the euro zone.
But the changing trend in financial markets suggests that markets believe that inflationary pressure in the United States may well have peaked in the near term, argues Hewson.