Financial Markets Daily Report
13 May 2022

Investors traded with a risk-off mood in yesterday's session, fueling the demand for safe-haven assets. The main concern continues to be whether central banks will be able to tackle down inflation without triggering a recession.

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  • Investors traded with a risk-off mood in yesterday's session, fueling the demand for safe-haven assets. The main concern continues to be whether central banks will be able to tackle down inflation without triggering a recession.
  • In this context, stocks extended the weekly declines, although late trading in the US kept the S&P and Nasdaq barely flat. In fixed-income markets, yields on 10-year sovereign bonds fell sharply in both sides of the Atlantic while the USD strengthened against most currencies, with the euro fluctuating below $1.04, a level not seen since late 2016.
  • In commodity markets, gas prices in Europe rose notably, after the Russian government imposed new sanctions against EU energy companies and announced that it will cut shipments to Europe through a major pipeline.
  • Today the focus will be on confirmation of April inflation figures in some euro area countries, including Spain, on March industrial production for the euro area and the University of Michigan US sentiment indicators for May.
     
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