Financial Markets Daily Report07 septiembre 2020
In Friday's session, global stocks declined and U.S. equities continued their selloff, particularly in the tech-heavy Nasdaq, as investors digested a mixed U.S. employment report.
- In Friday's session, global stocks declined and U.S. equities continued their selloff, particularly in the tech-heavy Nasdaq, as investors digested a mixed U.S. employment report.
- In particular, in August nonfarm payrolls continued to recover (+1.4 million), but at a slower rate than in July. Also, employment remains 11.5 million below pre-pandemic levels.
- In fixed income markets, yields on U.S. Treasuries and German Bunds rose while European sovereign spreads widened slightly.
- Meanwhile, the U.S. dollar edged down while the barrel of Brent fell to $42.7, its lowest value since July.
- This week, the ECB's governing council meets on Thursday (see what to expect here) and the next round of Brexit negotiations between the UK and EU kicks off, while U.S. CPI data is due on Friday.