Financial Markets Daily Report14 April 2021
Markets shrugged off a jump in U.S. inflation and the halt in Johnson & Johnson's COVID-19 vaccine rollout, and investors continued to favor risk assets in yesterday's session. Stocks and commodity prices advanced while the USD weakened moderately against the major currencies.
- Markets shrugged off a jump in U.S. inflation and the halt in Johnson & Johnson's COVID-19 vaccine rollout, and investors continued to favor risk assets in yesterday's session. Stocks and commodity prices advanced while the USD weakened moderately against the major currencies.
- In fixed-income markets, sovereign yields declined in the U.S. while remaining little changed in Europe.
- Bitcoin jumped over $63,000 (an all-time high) ahead of the listing of Coinbase, a cryptocurrency exchange that starts trading today.
- On the data front, U.S. CPI headline inflation jumped to 2.6% yoy in March while core inflation advanced to 1.6% yoy. While the rebound was fueled by strong base effects related to the pandemic, both headline and core inflation also posted strong figures on a month-on-month basis (see our take here).