Financial Markets Daily Report24 August 2021
Investors started the week on a positive mood, favoring risky assets amid supportive economic releases. Volatility declined, stock markets rallied across advanced and emerging economies, most currencies strengthened against the USD and commodity prices rebounded on the back of positive market sentiment.
- Investors started the week on a positive mood, favoring risky assets amid supportive economic releases. Volatility declined, stock markets rallied across advanced and emerging economies, most currencies strengthened against the USD and commodity prices rebounded on the back of positive market sentiment.
- U.S. sovereign yields were little changed as investors looked ahead to the Jackson Hole symposium later this week. In the euro area, sovereign yields nudged up across core and peripheral countries, while risk premia remained at low levels.
- Markit's PMIs showed that activity continues to advance at a solid pace in August. European composite PMIs nudged down but remained close to historical highs (euro area 59.5 points, Germany 60.6, France 55.9). In the U.S., where the recovery is more advanced, the PMI decelerated faster but preserved solid levels (55.4, down from 59.9).