Financial Markets Daily Report
20 July 2021

In the first session of the week, investors traded with a risk-off mood amid rising COVID-19 cases and concerns that the Delta variant might delay the economic recovery. Demand for safe haven assets (such as US Treasuries, the Swiss Franc or the Japanese Yen) increased.

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  • In the first session of the week, investors traded with a risk-off mood amid rising COVID-19 cases and concerns that the Delta variant might delay the economic ecovery. Demand for safe haven assets (such as US Treasuries, the Swiss Franc or the Japanese Yen) increased.
  • In this context, stock indices posted losses of more than 1% in the US and 2.5% in the euro area while yields on sovereign bonds edged down (the yield on the US Treasury declined by 10 basis points and fluctuated below 1.20%, a level not seen since mid-February).
  • Elsewhere, emerging economies' currencies weakened against the US dollar and the euro fluctuated around $1.18. Oil prices plummeted (-6.8%) in a context of doubts over the eonomic recovery and as the OPEC+ announced over the weekend that it will increase production.
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