Financial Markets Daily Report25 February 2021
Investors traded with optimism during yesterday's session. In Europe, the upward revision of the German Q4 GDP (from +0.1% qoq to +0.3%), supported by exports and construction, led to a rise of 0.5% in Eurostoxx50. European sovereign yields also rose and peripheral spreads widened slightly.
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- Investors traded with optimism during yesterday's session. In Europe, the upward revision of the German Q4 GDP (from +0.1% qoq to +0.3%), supported by exports and construction, led to a rise of 0.5% in Eurostoxx50. European sovereign yields also rose and peripheral spreads widened slightly.
- In the US, both stock markets and Treasury yields rose yesterday as Fed chairman Jay Powell reiterated the central bank's plan to continue with accomodative policies during his testimony in Congress. the S&P 500 rose 1.1%, its second consecutive rise after five negative sessions, and 10-year Treasury yields rose 4 basis points.
- Asian markets suffered some of their biggest losses of the past months yesterday, with the Shanghai and Nikkei 225 indices dropping 2% and 1.6% respectively as the stock selloff moves to Asia.
- In oil markets, the price of the barrel of Brent continued to rise and fluctuated above $67.