Financial Markets Daily Report
02 diciembre 2025
Financial markets started the week with a subdued risk appetite. Sovereign bond yields rose across the board in developed markets. The sold off started in Japan, where it seems increasingly likely that the BoJ could rise rates in December. In both Europe and the US, November ISM and PMI data showed protracted weakness in manufacturing.
Equity markets were mixed in Europe and down in the US, weighed down by the rise in Treasury yields and as some gauges of risk appetite such as bitcoin fell sharply. This came despite preliminary data of Black Friday sales showed a strong consumer sentiment.
In FX, the dollar weakened against its major peers, as investors expectations of a Fed rate cut in December rose to almost 100%. In commodities, oil prices were steady after an early hike at the start of the session, pushed up by OPEC+ decission to pause its planned increases of future output.