Resultats de la cerca

In the last session of the week investors focused on the increasing bets for a tightening of monetary policy across advanced economies and the better-than-expected corporate earnings releases.

Investors traded cautiously amid political tensions in France, where lawmakers are set to vote today on no-confidence motions. Euro area sovereign bond yields edged lower, and France's risk premium narrowed to 85bp after reaching 88bp in the previous session. The region's main stock indices advanced slightly, and the euro held steady at 1.05 against the dollar.

Global stock markets started the week with slight gains, after the Chinese President Xi Jinping sent a positive signal to the market saying he backs globalization and the opening up of China's market.

Uncertainty continued to dominate markets in yesterday's session, as no progress was made in the Middle East conflict. The naval blockade of the Iranian coast and of the Strait of Hormuz persists, and peace talks have not been resumed. Market volatility ticked up and Brent prices continued to rise, reaching $105/barrel.

A cautious approach was retaken by investors on Wednesday, driven by uncertainty on the geopolitical risk involving Ukraine and the exit strategy of major central banks in advanced economies. These headwinds more than offset better-than-expected data for January in the US (+3.8% m/m for retail sales and 1.4% for industrial production).

Investors closed the week trading with more appetite for risk, taking on board another upside surprise in labour market data in the US and easing financial pressure in the country’s regional banks.

The possible end of the central banks’ hiking cycle continued to weigh on financial markets’ sentiment yesterday. A list of FOMC members said yesterday that the US economy remains strong but expressed a generalized preference for remaining patient amid rising uncertainty in the coming months.

Investors' risk appetite waned yesterday amid renewed tensions in the war in Ukraine. Government bond yields rose in the Eurozone, where data released yesterday showed that negotiated wage growth accelerated to 5.4% in Q3 from 4.6% in Q2, which could cause the ECB to reconsider its dovishness if this feeds through to inflation in the coming months.

Investors ended the week on a cautious note as they assessed the prospects for renewed US–Iran talks over the weekend. Energy prices were volatile, with Brent crude finally settling around $105/bbl and European TTF gas near €45/MWh.

A week-long losing streak in global stock markets ceased on Friday as better than expected earnings results outweighed a worsening of coronavirus cases in the US and Europe. In Europe, the Eurostoxx50 ended the session 1.7% higher despite new coronavirus retrictions in some cities, while the S&P 500 edged up very slightly.

Market sentiment was dampened by weak investor confidence data in Germany (ZEW index dropped to 7.4 from 13.1 in the previous month), where also Chancellor Scholtz announced elections will be held in February after the ruling coalition collapsed last week. Sentiment was further dampened by caution ahead of today's inflation report in the US.

In yesterday’s session, investors continued to trade with caution amid intensifying political negotiations in the US to raise the debt ceiling and mixed economic data releases. In Europe, the May’s ZEW survey fell in the euro area and Germany, showing that investors’ sentiment remains gloomy.

In the first session of the week, investors traded with a cautious mood amid hawkish rhetoric from regional Federal Reserve presidents and an upbeat revision of the euro area forecasts done by the European Commission. 

Markets were mixed as investors continued to fully digest the US presidential election results and monetary policy decisions from various central banks. In the euro area, equities fell on fears of the negative implications of a potential trade conflict, and were further pushed lower by falling sovereign bond yields which dragged down financial sector stocks.

Investors kicked off the week with a higher risk appetite. In the euro area, the initial negative reaction to Trump's victory began to fade, with equity indices rising across the region and sovereign bond yields falling. Peripheral speads narrowed only slightly and Fitch upgraded Spain's debt outlook from "stable" to "positive", and affirmed its A- rating.

In yesterday's session financial markets continued to digest the last US Federal Reserve monetary policy decision, where interest rates were held unchanged at the 5.25%-5.50% target range and President Jerome Powell hinted that we might already be at the peak of the hiking cycle, although new rate hikes were not definitely ruled out.

Investors traded with a risk-on mood yesterday, after the confirmation that the Fed will begin this month to taper its net asset purchases, but that it will keep its policy interest rates unchanged for the foreseeable future, at least until the economy reaches full employment.

In the last session of the week, investors' sentiment improved and their preference for riskier assets rose after the sharp sell-off sessions that preceded Friday.

Investors closed last week trading cautiously, increasing their bets that the jump in inflation is likely to force central banks across advanced economies to deliver a more aggressive withdrawal of monetary stimuli. Financial markets are pricing in by yearend more than 150 bp hikes in the US and more than 50 bp hikes in the eurozone.