Financial Markets Daily Report 10 septiembre 2020
Investors traded in a risk-on mood in yesterday's session as tech stocks recovered from a market rout in the U.S.
- Investors traded in a risk-on mood in yesterday's session as tech stocks recovered from a market rout in the U.S.
- In Europe, stock markets rose across the continent and the Eurostoxx50 index closed 1.8% higher. Sovereign bond spreads fell in the periphery, especially in Italy after a very successful auction for a 20-year bond which saw very high participation from foreign investors.
- In the U.S., stocks started clawing back their losses of the last three days and the S&P 500 added 2% while the tech-weighted Nasdaq Composite closed 2.7% higher.
- The pound continued its fall as the chances of successful trade talks with the EU seemed increasingly remote. Meanwhile, the euro continued gaining against the dollar and now stands at $1.18.
- Today, investors will look forward to the ECB's monetary polcy meeting at which we expect no changes.