The season of inflation has arrived, but how will European stock markets react?[P1] The anticipation for the September release of the US inflation data advises investors to be cautious, continuing to monitor the quarterly trend and geopolitical developments. The European stock markets are therefore prudent, while the tech buybacks are partially balanced by concerns related to rising energy prices. The FTSE MIB of Milan's Stock Exchange remains at parity, seeking to defend its 50,000 points.

On the macro front, the US inflation data will be crucial in understanding the Federal Reserve's monetary policy space. In December, a 25-point base rate rise is quoted at 71%.[P2] Returning to the Milan-based bank, among the main stocks, Prysmian and Stmicroelectronics are favored, while banks are weak, after mixed quarters in the US giants and below the proxy advisor Iss, Banca Monte Paschi Siena on Banco Bpm and Banca Generali. Instead, Avio is favored, rewarded after the Lockheed Martin agreement.

On government bonds, the spread between BTp and Bund is in slight growth. The ten-year yield of Italian government bonds is up slightly from 4.52% to 4.53%, while the ten-year yield of German government bonds is down slightly from 106 points to 106.53 points. In slight growth as well, the yield of BTp decennial bond, at 4.53%, compared to 4.52% of the previous reference.[P3] On the currency market, the euro remains under 1.12 dollars, indicated at 1.1189 from 1.1193 on Tuesday.

The single currency also stands at 177.31 yen (from 177.28), with a ratio of 158.48, compared to 158.38 from the previous session. On energy, the price of oil is advancing: the November Wti futures rise by 1.24% to 95.31 dollars per barrel, while Brent for December shows +0.61% to 106.33 dollars. Gas stands at 85 euros per megawatt, down 2.5%.[P4] Chasing a slight decline, Tokyo's stock market closed in a slight drop, with investors shifting their attention to US inflation after seeking clues on the Federal Reserve's interest rate path.

The Nikkei index lost 0.5% and closed at 67,744.29 points. New York Fed President John Williams stated on Tuesday that it may be opportune for the Fed to increase interest rates again this year, adding that the aspect he is closely monitoring is artificial intelligence-driven inflation. News and in-depth insights into political events, etc.

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