The adoption by the US Senate of a fiscal 2018 budget resolution brought optimism about the chances for tax cuts and supported a small decrease in sovereign yields.
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Market participants remained relatively cautious as the publication of earnings reports will intensify in the coming days. U.S. stocks declined slightly while most of the European indices were up.
Stock markets registered gains across the US and Europe (including Germany, where the breakup of negotiations to form a government did not have an apparent impact on the market).
Slight increases in most of the developed stock markets during the last day of the week while long term sovereign bond yields registered small gains.
International markets experienced a surge in risk aversion during the last day of the week, with significant losses in most of developed stock markets and decreases in sovereign bond yields, as the investigation on a potential case of obstruction of justice by President Trump made a big step on Friday.
Stock markets diverged on both sides of the Atlantic as they posted moderate gains in the U.S. (S&P 500 flat, Nasdaq and Dow Jones on positive) but experienced widespread declines in Europe.
Equity markets have started the week in a very enthusiastic manner amid optimism that U.S. legislators are on the brink of passing the tax reform.
International stock markets were mixed with stronger declines in Europe and slighter decreases in the U.S., suggesting investors consider the effect of the tax reform is sufficiently priced in.
Stock markets advanced in the U.S. and experienced a generalized decline in Europe, while sovereign yields picked up both in the U.S. and the Euro Area.
U.S. stock markets rebounded while in Europe the tone was mixed. In sovereign bond markets, 10-year yields nudged down in the U.S. and edged up in the Euro Area.
As expected, the Governing Council of the ECB did not introduce changes in its monetary policy stance and maintained its pledge to move slowly in removing stimulus, repeating that interest rates are expected to remain at present levels until well past the end of net asset purchases.
U.S. stock markets ended their worst week in two years on a positive note, while European stocks also suffered losses in the last session of the week.
Yesterday stock markets registered small declines both in Europe and the U.S. In sovereign bonds markets, yields edged higher in the U.S. while they decreased slightly in Europe.
Global stock markets were mixed yesterday and investors continued to adopt a cautious stance as they are still evaluating the outlook for central bank policy normalization and the impact it could have on interest rates.
European stock markets registered strong declines on Friday while the U.S. Indices' late rally was muted by investor concern about the impact of American tariffs on the global economy.
Stock markets decreased slightly in the U.S. as investors are still concerned about the changes in the Trump administration.
In the last session of the week, stock markets advanced both in the U.S. and Europe, while in sovereign bond markets yields were roughly stable.
On Thursday, in the last session before the Easter holidays, stock markets posted gains both in the U.S. (S&P 500 +1.4%) and in Europe (Eurostoxx 50 +0.9%). Yesterday, European stock markets were still closed but U.S. markets opened back with losses (S&P 500 -2.2%).
Stock markets swung back and forth as they dropped in early trading and bounced back in the last part of the session.
Global stock markets continued the week on a positive note, especially in the U.S. where the main stock markets indices gained around 2 percent yesterday.