Financial Markets Daily Report08 June 2022
During a volatile session, financial markets closed the day with no clear direction, with investors taking position ahead of the crucial ECB meeting on Thursday and the release of the US CPI inflation on Friday.
- During a volatile session, financial markets closed the day with no clear direction, with investors taking position ahead of the crucial ECB meeting on Thursday and the release of the US CPI inflation on Friday.
- Sentiment was impaired by the downward revisions to global GDP growth this year by the World Bank, slashed to 2.9% from 4.1% predicted in January due to higher energy prices, tighter financial conditions and supply disruptions.
- In this context, stocks were mixed in Europe while rose in the US during a late-session rally. Sovereign bond yields declined across the board, with spreads across the eurozone periphery tightening notably. In FX markets, the Japanese Yen weakened further against the USD to a 20-year low.
- There are no major data releases today, following the publication of industrial production in Germany, which rose by 0.7% m/m in April, below expectations.