In yesterday's session, weak PMI data for August, which signalled a slowdown in economic growth across the Atlantic, but most acutely in Europe, caused sovereign bond yields to fall across the board (around 13bps. for the long-term references). In the eurozone, PMI data for the services sector fell below the 50 threshold for the first time in 2023.
Resultats de la cerca
European stocks and bond yields fell yesterday as Italy, France, Germany and Spain suspend vaccinations with the AstraZeneca vaccine over worries about the jabs' side-effects. Meanwhile, Italy has taken more stringent lockdown measures. The Eurostoxx50 was down by 0.1%.
Investors traded in a positive mood yesterday as the European stock market rose 0.6% on the back of good earnings reports and positive soft data. In Germany, the ZEW business expectations index rose to 71.2 in March from 61.8 in February, its highest level in months. Euro area periphery sovereign yields widened slightly.
European equities performed well on Thursday after the Federal Reserve raised its growth forecast for the US, and the Eurostoxx50 rose 0.5%. Banks and automakers led the gains, as they are favored by rising market interest rates.
Financial markets started the week with a sell-off session in stock markets as energy prices rose sharply following threats from the US to restrict oil imports from Russia and Russia threats to cut gas flows to Europe. In addition, the euro area investor sentiment index Sentix declined to -7.0 in March, the lowest level since November 2020.
Stocks edged higher both in the U.S. and Europe, while in sovereign debt markets U.S. and German yields nudged up and Euro Area periphery spreads declined.
Clàudia Canals detalla la revisión de nuestro escenario económico a raíz de la guerra de Ucrania (con menores tasas de crecimiento y mayores tasas de inflación), en un contexto de gran incertidumbre; las vías de impacto en las economías europea y española, y el papel de la política monetaria y fiscal ante esta nueva crisis. (Duración: 7').
Stock markets slid both in the U.S. and the Euro Area while treasury and bund yields were little changed and Euro Area periphery sovereign spreads declined.
Anàlisi de l'impacte econòmic de la crisi d'Ucraïna a Espanya
Stock markets advanced in the U.S. and experienced a generalized decline in Europe, while sovereign yields picked up both in the U.S. and the Euro Area.
In the first trading session of the year, stock markets rose in the U.S. and they were mixed in Europe, declining in core countries and advancing in the Euro Area periphery.
U.S. stock markets rebounded while in Europe the tone was mixed. In sovereign bond markets, 10-year yields nudged down in the U.S. and edged up in the Euro Area.
Stock markets rose in the U.S. but experienced widespread declines in Europe. In fixed-income markets, U.S. sovereign yields ticked up and European yields remained stable (with the exception of Portugal's).
Anàlisi de l’impacte econòmic de la crisi d’Ucraïna
Stocks rose supported by the release of strong earnings, both in the U.S. and Europe, while in fixed-income markets sovereign yields on U.S. and Euro Area bonds edged up.
Investors in European markets exhibited a positive mood, and the main euro area stock market indices advanced by around 1.0 percent in yesterday's session (with the exception of the Portuguese PSI20, which remained flat).
The European Commission's (EC) downward revision of economic growth forecast for the euro area worsened investor sentiment.
Yesterday European assets suffered another risk-off episode (more moderated than the experienced in late May) after two euro skeptic economists from League were appointed as heads of economic committees of the Italian Senate.