Financial Markets Daily Report
18 October 2021

Financial markets ended the week on a positive tone, on the back of better-than-expected Q3 corporate results and economic data releases in the U.S. In particular, retail sales rose by 0.7% mom in September, well above the Bloomberg consensus (0.2% decline).

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  • Financial markets ended the week on a positive tone, on the back of better-than-expected Q3 corporate results and economic data releases in the U.S. In particular, retail sales rose by 0.7% mom in September, well above the Bloomberg consensus (0.2% decline).
  • In this context, equities rose moderately across the board, with financial sector stocks leading the gains in most trading floors, and yields of sovereign bonds edged up in the euro area and in the U.S.
  • In FX markets, safe haven currencies, such as the U.S. dollar or the Japanese Yen, weakened against its advanced economies' peers and the euro fluctuated around $1.16.
  • This week the focus will be on the October preliminary Markit PMIs for the main advanced economies (Fri.), which might continue to highlight supply constraints as a concern for business output.
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