Financial Markets Daily Report 03 May 2022
Volatility continued to dominate across financial markets at the start of the week, as investors took position ahead of the Federal Reserve meeting staring today and following the release of feeble economic sentiment data (final manufacturing PMIs). EU leaders were still evaluating a new round of sanctions against Russia.
- Volatility continued to dominate across financial markets at the start of the week, as investors took position ahead of the Federal Reserve meeting staring today and following the release of feeble economic sentiment data (final manufacturing PMIs). EU leaders were still evaluating a new round of sanctions against Russia.
- In fixed-income markets, sovereign yields rose notably, with the US 10-year bond reaching the 3% level for the first time since December 2018. Sovereign yields across Europe also went up while the USD appreciated further against the EUR. Commodity prices continued to fluctuate around recent levels.
- In China, the official manufacturing PMI fell to 47.4 in April from 49.5 in March, in a second straight month of contraction, fueling a decline in stock prices across Asia. In Europe, stocks also declined while the key equity indices in the US closed higher, led by a rebound in the technology sector.