Financial Markets Daily Report 28 September 2021

Investors traded in a cautious mood in the first session of the week. Volatility rose, U.S. equities declined moderately and European and EM stocks nudged up.

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  • Investors traded in a cautious mood in the first session of the week. Volatility rose, U.S. equities declined moderately and European and EM stocks nudged up.
  • In fixed-income markets, U.S. sovereign yields nudged up as more Fed officials (the Board's Brainard and New York's Williams) continued to hint that their bar for scaling back asset purchases is close to being met (this Friday's employment report will be key). 
  • In the euro area, sovereign yields were little changed both in core and peripheral countries. In FX markets, the USD strengthened moderately against most AE and EM currencies, while the euro fluctuated around $1.17.
  • In commodity markets, Brent oil prices rose towards $80 as investors fretted about tighter supplies. Natural gas prices also continued to rise.
     
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