Financial Markets Daily Report 26 October 2021
Financial markets started the first session of the week with modest gains, focusing on the release of positive earnings results for Q3 (around 80% of the S&P listed firms have reported better-than-expected results) and bringing the S&P to a new record high. In Washington, Democrats lawmakers stepped closer to a deal on Biden’s fiscal agenda.
- Financial markets started the first session of the week with modest gains, focusing on the release of positive earnings results for Q3 (around 80% of the S&P listed firms have reported better-than-expected results) and bringing the S&P to a new record high. In Washington, Democrats lawmakers stepped closer to a deal on Biden’s fiscal agenda.
- In contrast, stocks fell modestly in Europe, following the publication of the Ifo business climate in Germany, which showed a further deterioration in sentiment in October (97.7 from 98.9) amid supply chain disruptions.
- The weak figures, however, had only very little impact on sovereign debt yields in Europe or the euro exchange rate, as investors were expecting the ECB to keep a dovish tone during the next monetary policy meeting on Thursday.
- In the economic calendar, the ECB will publish the Q3 bank lending survey for the euro area and, in the U.S., new home sales for September will be released.