KBC Market Research Desk
KBC Bank
European shares suffer big losses (‐1.5%), the periphery underperforming, as worries over the health of the Portuguese banking sector frighten investors. US stocks opened sharply lower too (‐0.9%to ‐1.4%)…
The Bank of England held interest rates at record lows but the pace of Britain's recovery looks likely to divide its policymakers soon over when to start weaning the economy off its support.
Renewed concerns about the health of a parent company of Portugal's largest bank hurt peripheral euro zone bonds, curbing demand at Greece's second debt sale following its 2012 default. Greece raised €1.5B via a syndicated 3‐yr GGB whereas officials eyed €3B.
The number of fresh applications for US initial jobless claims dropped 11,000 last week to 304,000, the Labor Department said, keeping the level at its lowest since 2007. This is more encouraging news from America’s jobs market.
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
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