Financial Markets Daily Report
14 July 2021

Investors turned their attention to the start of second-quarter earnings season and to inflation concerns in the US, after the consumer price index jumped to 5.4% yoy in June (4.5% yoy the core index). This level is the higher seen since 2008 and fuels speculation that the Federal Reserve will begin curbing asset purchases soon.

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  • Investors turned their attention to the start of second-quarter earnings season and to inflation concerns in the US, after the consumer price index jumped to 5.4% yoy in June (4.5% yoy the core index). This level is the higher seen since 2008 and fuels speculation that the Federal Reserve will begin curbing asset purchases soon.
  • In this context, the S&P 500 and Nasdaq ended lower while the Stoxx Europe 600 closed little changed. Nevertheless, financial sector companies declined after the European Central Bank said it would take steps to prevent excessive dividends when cap on payouts will be lifted.
  • Elsewhere, the US dollar strengthened and Treasury yields rose.
  • Today, Federal Reserve Chairman Jerome Powell speaks to Congress and US IPP, the Beige Book and industrial production in euro area will be released.
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