Financial Markets Daily Report
22 September 2021

In yesterday’s session, investors’ sentiment improved as concerns on Chinese Evergrande’s fallout eased.

FMDR
  • In yesterday’s session, investors’ sentiment improved as concerns on Chinese Evergrande’s fallout eased.
  • Helped by dip-buyers, euro area equity indices advanced by more than 1% while gains in U.S. stocks were more moderate. In fixed-income markets, yields on sovereign bonds were broadly unchanged, with the 10-year bonds of Germany and the U.S. yielding at -0.32% and 1.32%, respectively.
  • The OECD released its Interim Economic Outlook, in which it reaffirmed that the global economic recovery remains strong, although uneven across countries. Euro area GDP growth for 2021 and 2022 was revised upwards to 5.3% and 4.6% (+1.0 pp and 0.2 pp, respectively, from the previous Economic Outlook).
  • Today, the focus will be on the FOMC monetary policy meeting, in which we expect a delay in the announcement of the asset purchases tapering to the next few months due to the spread of the Delta variant.
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