Financial Markets Daily Report13 April 2021
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 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.
- In fixed-income markets, U.S. sovereign yields nudged up at the short and long end of the curve after Chairman Jerome Powell had said on Sunday that the Fed expects "very strong" job growth in the months ahead. Yet, he also reiterated that the Fed is not about to change its current policy tools.
- In Europe, sovereign yields ticked up, peripheral spreads remained unchanged and the euro fluctuated around $1.19.
- On the data front, euro area retail sales advanced +3.0% mom in February and stood -2.9% on a year-on-year basis. Today the focus will be on the release of U.S. CPI inflation figures for March.