Markets traded without a clear direction as investors remained cautious awaiting further announcements from the Trump administration and central bank meetings next week. ECB officials' remarks continued to support further interest rate cuts, while Fed officials are in the "blackout" period ahead of the meeting and cannot comment about monetary policy.
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In yesterday's session, German bonds extended their decline, with the 10-year bund yield reaching 2.83%, and the euro appreciated against the dollar as the ECB cut interest rates by 25 basis points to 2.5%. President Christine Lagarde did not pre-commit to setting rates in any direction in the upcoming meetings, and warned of the uncertainty surrounding the effects of the trade war and increased defense spending.
The Spanish economy remains buoyant in a more challenging global context and a growing number of its sectors are in expansion. In this context, the sectors most exposed to the new protectionist shift in the US have the potential to redirect their exports to other global markets, while renewable energies can play a strategic role in the economy’s industrial competitiveness.
Without any significant drivers, markets traded without a clear direction during yesterday’s session, pausing the previous’ days strong risk-on sentiment. Treasury yields edged lower in the US ahead of the Fed’s meeting next week (expected to lower interest rates by 25bp). European government yields fell across the region, keeping peripheral risk premia constant.
For the second consecutive day, markets traded without a clear direction. Government yields ended flat on both sides of the Atlantic while stocks mostly fell, with some exceptions in the euro area, amid reports that the Trump administration is considering to curb exports to China made with US software.
The first few months of 2019 seem to confirm the positive tone of the sector in Spain, consolidating the excellent inbound tourism figures of recent years. While growth in the number of tourists visiting Spain is slowing down, their expenditure is still increasing significantly. The challenge is how to sustain these trends, redirecting tourism supply towards higher quality segments.
Stock markets posted gains across Europe and the US, while sovereign yields moved in opposite directions as they recorded mild declines in the eurozone and moderate increases in the US.
Financial markets exhibited a mixed mood as European stocks nudged down and U.S. indices struggled for direction but closed with small gains.
Financial markets performed in opposite directions in both sides of the Atlantic.
After the extraordinary gains in U.S. equities registered on December 26th, financial markets remained volatile and performed in opposite directions across advanced economies.
As markets continue to struggle for direction, yesterday volatility declined and European and U.S. stock markets rose on the back of some positive earnings reports and as investors looked past weak economic releases.
Markets searched for direction as investors weighed an increase in coronavirus infections and policy announcements.
Markets were mixed in the last session of the week as investors looked for direction.
Investors searched for direction in yesterday's session. Asian stocks advanced, European indices were mixed, and U.S. equities jumped as markets regained optimism that a partial deal on more fiscal stimulus could still happen.
European equities dropped as investors looked for the next catalysts to give the market direction. In Spain, shares of utility companies dropped over a draft bill the government is preparing that could drive down electricity prices.
In August's low trading environment, markets searched for direction as investors continued to weigh the spread of the Delta variant against positive economic indicators and some hawkish-sounding remarks from Fed officials.