Financial Markets Daily Report03 September 2021
Markets traded on a positive mood in yesterday's session. Optimism on the economic recovery sent commodities and advanced-economy stocks higher, and in FX markets the USD eased against the major currencies. Yet, EM equities and currencies were mixed.
- Markets traded on a positive mood in yesterday's session. Optimism on the economic recovery sent commodities and advanced-economy stocks higher, and in FX markets the USD eased against the major currencies. Yet, EM equities and currencies were mixed.
- In fixed-income markets, sovereign yields nudged down across the U.S. and Europe, and euro area peripheral spreads were little changed. Looking beyond 2021 and the Fed's tapering, Atlanta Fed President Raphael Bostic said that the Fed will not be pre-emptive in raising rates, and that they will let the economy run until they see signs of inflation.
- Today the focus will be on the release of the U.S. August employment report, with investors looking for further evidence on the labor market and whether it is making further substantial progress towards maximum employment ahead of the Fed's September monetary policy meeting.