16 novembre 2020
Last Friday, markets ended one of their best weeks since summer as economically-sensitive assets regained momentum on the back of positive COVID-19 vaccine developments.
Evolution of the international financial markets and evaluation of the main events and economic indicators of the previous day session. Available in English.
Last Friday, markets ended one of their best weeks since summer as economically-sensitive assets regained momentum on the back of positive COVID-19 vaccine developments.
This past week's stock market vaccine rally went into reverse on Thursday as Covid-19 cases and deaths climbed across the world.
European sovereign yields edged lower in yesterday's trading session following a speech by ECB chief Christine Lagarde in which she signalled further monetary easing. In her speech, Lagarde emphasised the importance of the duration, and not only the size, of monetary accomodation, and identified PEPP and TLTROs as the main crisis tools.
Investors traded in a risk-on mood in yesterday's session as markets still digested this week's announcement of a breakthrough in the search for a Covid-19 vaccine.
Stock markets soared across the world on Monday as Pfizer and BioNTech announced a breakthrough in their development of a Covid-19 vaccine.
Markets ended last week on a high note on Friday as it became apparent that the US elections were nearing a result. The S&P 500 gained 7.3% over the week and US sovereign yields rose sharply. The election result was finally called on Saturday, in favor of Joe Biden, but Donald Trump announced that he would contest the results.
In yesterday's session, investors traded with a positive tone as the Federal Reserve kept its monetary policy unchanged and vote counting continued in the US. The Democrat candidate, Joe Biden, has taken the lead and potentially winning one more state would be sufficient for him to become the US President.
In the US, the race for the White House is still very tied. Joe Biden won Wisconsin’s and Michigan’s electoral votes as the last ballots in those states were counted, but the outcome of the election might not be decided for days.
In yesterday's session, investor sentiment continued to improve as US citizens started casting their vote for the Presidential elections. The Democratic candidate, Joe Biden, was leading most national polls but the race for the White House was too close to call as of this morning.
Investors traded with an optimistic tone ahead of the US Presidential elections as October's manufacturing sentiment data surprised to the upside in most regions. In particular, Spain's manufacturing PMI rose from 50.8 in the previous month to 52.8, the euro area's to 54.8 from 54.4 and the manufacturing ISM for the US rose to 59.3 from 55.4.