Latest Irish Life weekly markets update

Peter Rice
Peter Rice, Investment Proposition Manager
Monday, 18th September 2023
Latest Irish Life weekly investment bulletin

Key talking points include

  • Global equities were mixed with US markets flat, while European markets were buoyed by the likely end of the ECB's tightening cycle.

  • The S&P 500 fell by -0.1% (MTD -1.2%, YTD +17.3%), while the Euro Stoxx 50 rose by +1.4% (MTD flat, YTD +16.6%).

  • The ECB unexpectedly raised its deposit rate by 25bps to a record-high 4.0%, while also signalling they are likely finished hiking for this cycle.

  • This week, the focus will be on the Fed's two-day policy meeting that's scheduled to end on Wednesday. It's widely expected to leave its benchmark interest rate unchanged.