Financial Markets Daily Report
23 abril 2021

Yesterday investors focused their attention on the ECB meeting, which delivered no surprises, and on a report that suggested that Joe Biden's Administration would increase the capital gains rate to finance social spending. In the US, this latter driver increased volatility in stock markets and the main indices declined.

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FMDR
  • Yesterday investors focused their attention on the ECB meeting, which delivered no surprises, and on a report that suggested that Joe Biden's Administration would increase the capital gains rate to finance social spending. In the US, this latter driver increased volatility in stock markets and the main indices declined.
  • In the euro area, the ECB kept its accommodative monetary policy stance unchanged and said that the "significant" increase in the pace of net asset purchases within PEPP would continue until June. Its assessment of the economic outlook remains unchanged, with risks tilted to the downside in the short run but balanced in the medium run.
  • In this context, stock indices rose across European trading floors, sovereign yields ticked up in core euro area countries and peripheral spreads narrowed modestly.
  • Today the focus will be on April's flash PMIs for the main advanced economies. 
     
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