Financial Markets Daily Report
30 July 2021

Investors traded in a positive mood in yesterday's session. Favoured by risk appetite, stocks rose across advanced and emerging economies, commodity prices advanced in a broad-based manner and most currencies strengthened against the USD.

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  • Investors traded in a positive mood in yesterday's session. Favoured by risk appetite, stocks rose across advanced and emerging economies, commodity prices advanced in a broad-based manner and most currencies strengthened against the USD.
  • In fixed-income markets, the U.S. sovereign yield curve steepened as data showed a solid GDP performance in Q2 (+1.6% qoq, reaching pre-pandemic levels, and with private consumption advancing a strong +2.8% qoq).
  • Euro area sovereign yields were little changed, seemingly unaffected by a jump in Germany's July inflation figures (the CPI jumped +3.8% yoy, the highest since 1993, driven by energy prices and base effects from a VAT cut last year).
  • Today the focus will be on Europe, where Eurostat will release its first estimate for the euro area's GDP in Q2 as well as area-wide July inflation figures. In the U.S., PCE inflation data for June will also be published.
     
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