Financial Markets Daily Report 08 November 2021
Financial markets ended the week on a positive note, supported by stronger-than-expected employment data in the US (non-farm payrolls rose by 531k in October while the jobless rate edged down by 0.2 p.p. to 4.6%) and the approval by lawmakers in Washington of the $1.2tn infrastructure spending bill.
- Financial markets ended the week on a positive note, supported by stronger-than-expected employment data in the US (non-farm payrolls rose by 531k in October while the jobless rate edged down by 0.2 p.p. to 4.6%) and the approval by lawmakers in Washington of the $1.2tn infrastructure spending bill.
- In this context, stocks rose in both side of the Atlantic, the USD depreciated modestly against its peers while commodity prices advanced notably, recovering some of the decline of previous sessions.
- In fixed income markets, sovereign bond yields continued to edge down in the U.S. and in Europe as markets still digested the dovish rhetoric in recent monetary policy decisions by central banks across developed markets.
- This week the focus will be on inflation, with the release of the October CPI data in the U.S. and China (both on Wednesday). In addition, a number of Fed officials, including Powell, will be delivering speeches during the week.