19 April 2021
Investors closed the week with an optimistic tone. Positive corporate earnings releases and Q1 activity data in China (GDP rose by 0.6% qoq and 18.3% yoy, due to base effects) contributed to the improvement in sentiment.
Evolution of the international financial markets and evaluation of the main events and economic indicators of the previous day session. Available in English.
Investors closed the week with an optimistic tone. Positive corporate earnings releases and Q1 activity data in China (GDP rose by 0.6% qoq and 18.3% yoy, due to base effects) contributed to the improvement in sentiment.
Global stock markets advanced across the board in yesterday's session. U.S. stocks reached new record highs on the back of robust retail sales data (+9.8% mom in March), but gains were more modest elsewhere.
Investors traded in a mixed mood as the U.S. earnings season kicked off. Global stocks were mixed, the USD weakened moderately and sovereign yields nudged up across the U.S. and Europe.
Markets shrugged off a jump in U.S. inflation and the halt in Johnson & Johnson's COVID-19 vaccine rollout, and investors continued to favor risk assets in yesterday's session. Stocks and commodity prices advanced while the USD weakened moderately against the major currencies.
Markets started the week in a cautious mood as investors pondered over pandemic dynamics and the economic outlook. Stock markets declined moderately across most advanced and emerging economies while commodities were mixed and FX markets were little changed.
Markets closed the week with a mixed session on Friday. A jump in U.S. producer price inflation (+4.2% yoy in March after +2.8% in February) led to a steepening of global sovereign yield curves and a mixed performance in most stock markets (with the exception of the U.S., where equities posted a third-straight weekly rally).
Investors continued to trade in a low volatility environment as comments from policy makers reiterated their intention to support economic growth. In particular, Janet Yellen, US Treasury Secretary, urged the main economies to adopt an expansionary fiscal stance to secure a robust recovery.
Yesterday, investors traded in a low volatility environment as the Fed's last meeting minutes reiterated its intention to keep the monetary policy stance unchanged for some time. Nevertheless, as it was anticipated in the dot plot, several members argued that they would favor raising rates earlier than the FOMC’s median view.
In yesterday's session investors traded with a positive mood as the IMF revised upwards its macroeconomic projections for most advanced and emerging economies. The more vigorous recovery is driven by the fiscal stimulus packages and the vaccination campaign gathering pace in the next quarters.
In yesterday's session, US investors traded with optimism as more people are receiving vaccines and economic data releases came out better than expected. European markets were closed due to the Easter holiday.