October 30, 2026

The European Central Bank (ECB) kept its benchmark rate at 2.65%

International

The ECB left interest rates unchanged at 2.65%, in line with the consensus forecast among analysts. The current environment is characterized by a combination of inflationary pressures and weak economic growth. Meanwhile, third-quarter Gross Domestic Product (GDP) figures were released today, showing an annualized growth rate of 1.3%—surpassing the 1.1% estimate. Against this backdrop, the euro ended the day at $1.12, up 0.2% from the previous close, while the yield on the 10-year German government bond fell to 3.36%.

Additionally, the U.S. Treasury yield curve flattened by the close of yesterday’s session. Specifically, the yield on the 1-year note moved from 4.45% to 4.36%, the 3-year note fell from 4.78% to 4.67%, and the 10-year note declined from 5.02% to 4.94%.

Major U.S. stock indices closed yesterday’s session with broad-based losses. Both the S&P 500 and the Dow Jones fell by 0.3%, while the Nasdaq dropped 1.4%. Despite this, the indices remain up for the year, with gains of 12.8%, 8.9%, and 12.7%, respectively.

Finally, following yesterday’s market close, Amazon, Intel, Mastercard, and Eli Lilly released their third-quarter corporate earnings. While Amazon—one of the "Magnificent Seven"—reported revenue and earnings per share (EPS) figures that fell short of analyst consensus, the other companies exceeded expectations for both EPS and revenue; notably, Eli Lilly saw its revenue grow by 39% year-over-year.

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