Financial Markets Daily Report
13 juliol 2020

Investor sentiment ended the week on the up amid positive reports over a potential antiviral drug to treat COVID-19. As risk appetite rose, stocks increased across Europe and the U.S., the USD weakened and commodity prices advanced (in oil markets, the barrel of Brent closed moderately above $43).

 

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  • Investor sentiment ended the week on the up amid positive reports over a potential antiviral drug to treat COVID-19. As risk appetite rose, stocks increased across Europe and the U.S., the USD weakened and commodity prices advanced (in oil markets, the barrel of Brent closed moderately above $43).
  • Yet, Chinese equities ended an eight-day surge and the Shanghai composite index declined by close to 2% amid hints that authorities wanted to cool down the stock market rally (e.g., state-backed funds announced plans to trim holdings of stocks that had been soaring).
  • In fixed-income markets, U.S. sovereign yields edged up. In the euro area, yields and sovereign risk premia were little changed as investors waited for Fitch's assessment of Italy's rating (which was affirmed at BBB- with a stable outlook).
  • This week the focus will be on the release of Q2 GDP figures in China, the ECB meeting and the European Council.
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