Financial Markets Daily Report13 April 2022
In yesterday's session, inflationary concerns continued to be the main driver for investors. While markets initially received positively the March IPC for the US (8.5% y/y for the headline and 6.5% for the core), the pickup in oil prices and hawkish comments by some Fed officials led to a worsening of investor's sentiment.
- In yesterday's session, inflationary concerns continued to be the main driver for investors. While markets initially received positively the March IPC for the US (8.5% y/y for the headline and 6.5% for the core), the pickup in oil prices and hawkish comments by some Fed officials led to a worsening of investor's sentiment.
- Oil prices rose as lockdown measures in Shanghai were eased somewhat and amid comments from the OPEC that replacing oil supplies from Russia would be hard. European gas prices rose too.
- Stock indices declined in Europe and in the US, ahead the beginning of the Q1 earning season, and edged up in Latin America and in China. In fixed-income markets, yields on sovereign bonds edged down in both sides of the Atlantic and euro area peripheral spreads narrowed.
- In interbank rate markets, for the first time since 2016 the Euribor 12M turned positive (+0.005%).