Financial Markets Daily Report11 febrero 2021
In yesterday's session, investor sentiment remained cautious amid volatile inflation data in the US (core CPI inflation +1.4% in January vs +1.6% in December).
- In yesterday's session, investor sentiment remained cautious amid volatile inflation data in the US (core CPI inflation +1.4% in January vs +1.6% in December).
- On central bank communication, Fed Chairman Jerome Powell insisted that they seek to achieve inflation that averages 2 percent over time and reiterated his call for further fiscal support to reach full employment.
- In this context, stock indices in advanced economies declined for the second consecutive day. In EM, instead, equities managed to increase. In fixed-income markets, yields on euro area sovereign bonds edged up except for Italy, where Mario Draghi continues its round of conversations looking for support for its government.
- In commodity markets, oil prices rose for a ninth consecutive day. Supply cuts from OPEC+ and the expectation of a recovery in demand (favored by the vaccination rollout) drove the barrel of Brent towards $61.5.