Financial Markets Daily Report 28 June 2021
In the last session of the week, positive economic data releases helped to improve investors' sentiment. June's consumer confidence in Germany rose to its highest level since August 2020 while in Italy it reached a record not seen since November 2018.
- In the last session of the week, positive economic data releases helped to improve investors' sentiment. June's consumer confidence in Germany rose to its highest level since August 2020 while in Italy it reached a record not seen since November 2018.
- In the US, May's consumer spending was flat, although the April reading was upwardly revised (from +0.5% to +0.9% mom). The core PCE deflator rose by 0.3 pp to 3.4% yoy, the highest increase in almost 30 years.
- In this context, stock indices advanced in both sides of the Atlantic, 10-year sovereign yields edged up particularly in the euro area and peripheral spreads widened. Brent prices continued to increase and fluctuated above $76 per barrel.
- This week economic data releases will focus the attention of investors. The main numbers will be the inflation figures in the euro area (Spain's on Tuesday and EZ's on Wednesday) and the US employment report for June (Friday).