周二，DAX指数下跌0.3%，至18700点以下，延续了早盘跌幅，此前美国公布了高于预期的PPI报告。4月份工厂出厂价格上涨0.5%，超出预期，从3月份的下跌中反弹。与此同时，投资者的注意力仍然集中在盈利报告和公司发展上。Hannover Rueck股价下跌超过4%，军火制造商Rheinmetall股价下跌约3.5%，此前公布的销售额和收益低于预期。另一方面，由于优步将以9.5亿美元现金收购其在台湾的大熊猫外卖业务，宝马上涨约1%，Delivery Hero飙升25%。拜耳在盈利超过预期后也上涨了近3%。

The DAX declined by 0.3% to below the 18700 level on Tuesday, extending its morning losses, following a hotter-than-expected PPI report in the US. Factory gate prices rose 0.5% in April, surpassing expectations and rebounding from March's decline. Alongside, investor attention remained drawn to earnings releases and corporate developments. Hannover Rueck fell over 4% and the arms maker Rheinmetall was down around 3.5% after posting sales and earnings below forecasts. On the other hand, BMW gained about 1% and Delivery Hero soared 25% as Uber will acquire its foodpanda delivery business in Taiwan for $950 million in cash. Bayer also gained nearly 3% after an earnings beat.

由于投资者考虑主要央行的利率前景，德国10年期国债收益率升至2.53%，为一周多来的最高水平。欧洲央行预计要到6月6日才会调整利率，届时政策制定者可以开始降低利率。相反，预计美联储至少要到9月或11月才会采取任何行动。美国最新数据显示，4月份生产者价格涨幅远超预期，引发了人们对美联储可能推迟降息的猜测。如果美国利率继续上升，可能会对包括欧元区在内的全球利率产生连锁反应。人们现在关注的是即将于周三发布的美国消费者价格指数、第一季度GDP和欧元区就业报告。

The German 10-year Bund yield rose to 2.53%, its highest in over a week, as investors consider interest rate outlook from major central banks. The European Central Bank is not expected to adjust rates until June 6, when policymakers can begin to lower interest rates. Conversely, the Federal Reserve is not anticipated to take any action until at least September or November. The latest data out of the US showed producer prices rose much more than expected in April, sparking speculation that the Fed may delay rate cuts. If US interest rates stay elevated, it could have a ripple effect on global interest rates, including in the Euro Area. Eyes are now on the upcoming US consumer price index, Q1 GDP, and Euro Area employment reports due Wednesday.

德国ZEW经济情绪指标从4月的42.9增至2024年5月的47.1，为2022年2月以来的最高值，超过了预测的46。当前状况分类指数也从-79.2提高到-72.3，而预期为-75.8。这标志着金融专家信心连续第十个月上升，受德国经济复苏迹象和第一季度GDP增长强于预期的推动。此外，欧元区和中国经济状况的改善也有助于改善前景。对国内消费以及建筑和机械行业的预期大幅上升。

The ZEW Indicator of Economic Sentiment for Germany increased to 47.1 in May 2024, the highest since February 2022, from 42.9 in April, and beating forecasts of 46. The current conditions subindex also improved to -72.3 from -79.2, compared to expectations of -75.8. This marks the tenth consecutive month of rising confidence among financial experts, driven by signs of economic recovery in Germany and stronger-than-expected GDP growth in Q1. Additionally, improving economic conditions in the Euro Area and China have contributed to a better outlook. Expectations for domestic consumption, as well as the construction and machinery sectors, have seen substantial increases.

继上一交易日小幅下跌后，DAX周二小幅下跌0.2%，至18700点，追随欧洲普遍的谨慎情绪，交易员们继续等待美国的关键通胀报告，这将有助于澄清美联储何时开始降息。投资者还关注盈利报告和企业新闻。拜耳公司股价下跌1.4%，尽管盈利有所好转。Hannover Rueck股价下跌近3%，军火制造商Rheinmetall股价下跌约6%，此前公布的销售额和收益低于预期。另一方面，由于优步将以9.5亿美元现金收购其在台湾的食品熊猫配送业务，宝马上涨约1%，Delivery Hero飙升超过20%。拜耳也在盈利超过预期后上涨2%。

The DAX edged 0.2% lower to the 18700 level on Tuesday, following a small loss in the previous session, and tracking a general cautious mood in Europe, as traders continue to await key inflation reports for the US which will help to clarify when the Fed could start lowering interest rates. Investors are also focused on earnings reports and corporate news. Bayer lost 1.4% despite an earnings beat. Hannover Rueck fell almost 3% and the arms maker Rheinmetall was down around 6% after posting sales and earnings below forecasts. On the other hand, BMW gained about 1% and Delivery Hero soared more than 20% as Uber will acquire its foodpanda delivery business in Taiwan for $950 million in cash. Bayer also gained 2% after an earnings beat.