Financial Markets Daily Report15 April 2021
Investors traded in a mixed mood as the U.S. earnings season kicked off. Global stocks were mixed, the USD weakened moderately and sovereign yields nudged up across the U.S. and Europe.
- Investors traded in a mixed mood as the U.S. earnings season kicked off. Global stocks were mixed, the USD weakened moderately and sovereign yields nudged up across the U.S. and Europe.
- Portugal's 10-year sovereign yield jumped 14bp due to a change in the benchmark, from a bond maturing in October 2030 to one maturing in October 2031.
- Brent oil prices surged above $65 as the U.S. DoE's weekly update showed that U.S. crude oil inventories had decreased by 5.9 million barrels last week and stand about 1% above the five year average for this time of year.
- On the central bank arena, Fed Chair Powell clarified that the Fed will taper bond purchases before eyeing interest rate hikes. In Europe, ECB President Lagarde described the euro area economy as standing on the "two crutches" of monetary and fiscal policies, reiterating that stimuli measures need to remain in place.