Financial Markets Daily Report23 June 2021
Financial markets extended the gains on Tuesday, with investors' sentiment boosted by dovish comments on inflation and monetary policy from some key Fed officials. As a result, stocks in the US fluctuated around record highs while the decline in US treasury yields stabilized. In Asia, equity indexes advanced further on Wednesday.
- Financial markets extended the gains on Tuesday, with investors' sentiment boosted by dovish comments on inflation and monetary policy from some key Fed officials. As a result, stocks in the US fluctuated around record highs while the decline in US treasury yields stabilized. In Asia, equity indexes advanced further on Wednesday.
- Fed President Jerome Powell reiterated that inflation pressures will be transitory even after the sharp rebound in recent months. He added the central bank will be patient in waiting to lift borrowing costs. Mary Daly (San Francisco Fed President) added that hiking interest rates was not being considered.
- On the economic calendar, the key focus today is on the release of the flash PMI reports for June for major developed economies. In addition, the central bank of the Check Republic is expected to announce a 25 b. p. rate hike, following a similar move (30 b. p. hike) by the central bank of Hungary on Tuesday.