Financial Markets Daily Report28 April 2021
Investors traded in a more cautious way in yesterday's session. U.S. and euro area sovereign yields nudged up on the back of a surge in U.S. consumer confidence (the Conference Board's index rose to 121.7 points in April, its highest level since February 2020), while global stock markets were mixed.
- Investors traded in a more cautious way in yesterday's session. U.S. and euro area sovereign yields nudged up on the back of a surge in U.S. consumer confidence (the Conference Board's index rose to 121.7 points in April, its highest level since February 2020), while global stock markets were mixed.
- In FX markets, the main currencies were little changed. In commodity markets, Brent oil prices edged higher amid reports that the OPEC+ will stick to its current production plans (which envisage a moderate easing of supply cuts in May, to be reassessed again in June).
- Today the focus will be on the outcome of the Fed's monetary policy meeting. We do not expect adjustments to policy tools yet, but we will be paying close attention to hints that shed light on the question of when the Fed will start to prepare for tapering its asset purchases.