Financial Markets Daily Report
26 marzo 2026
Yesterday's session showed a risk-on sentiment, after news of Iran reportedly reviewing a peace proposal from the US increased the expectations of the conflict ending in the short term. Energy prices slid more than 2%, but have rebounded as of this morning as the strikes continue while the two countries review the terms.
Government bond yields fell globally, especially in the euro area, following comments from ECB's President Christine Lagarde striking a modest tone regarding the possibility of future rate hikes and remarking that this year's supply shock would have a smaller pass-through to consumer prices than 2022's. Today the Norges Bank meets, expected to leave its rate at 4%.
A recovery of risk-on sentiment was also present in stock markets, especially in Asia, which had suffered the greatest losses due to its reliance on the energy that flows through the Strait of Hormuz. Euro area and US indices also closed with gains, but more modest. The dollar appreciated against peers, leaving the EUR/USD cross trading below 1.16.