On October 24, 2024, European Central Bank (ECB) policymaker Robert Holzmann indicated a probable quarter-point interest rate cut in December, according to Bloomberg News. Holzmann suggested that while a larger half-point cut is not likely, it remains a possibility. He also mentioned that the ECB may choose to take a break in December following the preemptive cut made in October.
In Oslo, Equinor, the Norwegian oil and gas producer, reported a sharper-than-expected decline in third-quarter profits, attributing the drop to weaker oil prices and lower production. The company's adjusted earnings before tax fell to $6.89 billion from $7.93 billion a year earlier, missing analyst expectations of $7.08 billion. Equinor has also revised its full-year outlook for capital expenditure and renewable energy production growth.
Meanwhile, S&P Global Ratings announced that global bond sales are projected to increase by 17% this year, reaching approximately $9 trillion. The report, dated October 23, noted that the momentum from the third quarter is expected to continue. However, bond issuance in 2025 is anticipated to moderate to a 4% increase due to slowing economic growth and a high base of comparison from this year.