Financial Markets Daily Report20 julio 2020
In the last session of the week, investors traded cautiously as they pondered over an uncertain economic outlook. Stocks rose moderately in advanced economies while exhibiting a better performance in emerging economies. In FX markets, the USD weakened against most AE currencies.
- In the last session of the week, investors traded cautiously as they pondered over an uncertain economic outlook. Stocks rose moderately in advanced economies while exhibiting a better performance in emerging economies. In FX markets, the USD weakened against most AE currencies.
- Throughout the weekend, European leaders negotiated over the EU recovery fund but did not reach an agreement. According to media sources, the latest proposal to try to bring the 'frugal four' countries on board would entail €390bn delivered as grants (€500bn in the original EC proposal). Negotiations will continue today.
- Sovereign bonds edged up modestly in the U.S. and the euro area. Peripheral spreads declined, and once markets had closed, Moody's chose to skip its scheduled Portugal rating revision, leaving the rating at Baa3 with a positive outlook.
- This week the focus will be on July's flash PMI for the euro area, France, Germany, the UK and the U.S. (Thu.).