Eurizon Weekly 9 Dec. 2024. Last week focus was back on macro dataIn the US yields dropped, with labour market data staying positive. In Europe, political uncertainty in France kept German rates stable at the previous week’s levels. However, the fall of the government and anticipation ahead of the appointment of a new prime minister have not generated excessive volatility. The stock markets also performed well in the week, with the S&P 500 index consolidating new all-time highs. Focus is now shift on central bank decisions over the next few weeks. The mix of growth and inflation expectations will be decisive in defining the timeline the two major central banks will follow in lowering rates. Stefano Cucchi of Eurizon’s Macro Research & Product Specialist team takes a closer look. Audio recorded on 9 Dec. 2024