Financial Markets Daily Report
20 January 2022

Investors traded cautiously on Wednesday, on the back of mixed results from the Q4 corporate earnings season and with the focus still on expectations about higher interest rates across financial markets.

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  • Investors traded cautiously on Wednesday, on the back of mixed results from the Q4 corporate earnings season and with the focus still on expectations about higher interest rates across financial markets.
  • The yield on the 10-year German sovereign bond turned positive for the first time since 2019. In the US, the USD depreciated modestly against its peers, with yields on the US Treasury curve stabilizing.
  • In equity markets, the tech-heavy Nasdaq index in the US continued to fall within correction territory (> 10% decline since peak), while in Europe, stocks stalled. In Asia, equity prices were rising on Thursday after China announced a cut in the benchmark rate for mortgage lending. In addition, oil prices rose to the highest level since October 2014.
  • Today the ECB will release the accounts of its December meeting. There will be policy decisions by central banks in Norway, Turkey, Indonesia and Malaysia.
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