Financial Markets Daily Report05 March 2021
In yesterday's session, investors extended the sell-off of equity and most stock indices across advanced economies registered losses. Jerome Powell reiterated in a speech that the Fed is committed with its objectives and that it will keep easy credit conditions even when economic conditions improve.
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- In yesterday's session, investors extended the sell-off of equity and most stock indices across advanced economies registered losses. Jerome Powell reiterated in a speech that the Fed is committed with its objectives and that it will keep easy credit conditions even when economic conditions improve.
- In this context, long term US Treasury yields rose and fluctuated above 1.50%. Charles Evans, Chicago's Fed president, said that if this spike is caused by a better outlook for the economy, the Federal Reserve should not be concerned.
- In the euro area, sovereign yields edged lower while peripheral spreads widened modestly. The euro weakened and fluctuated below $1.20.
- In oil markets, the price of the barrel of Brent rose to levels not seen since January 2020 as OPEC+ decided to keep production unchanged, against market expectation that it would ease supply limits.