Financial Markets Daily Report
22 abril 2022

During a volatile session, markets closed with mixed results, as investors digested a mix of hawkish comments by central bank officials, upbeat corporate earnings reports, positive macro data (e.g. consumer confidence in the eurozone) and a good showing by incumbent French President Macron at a TV debate against FN Le Pen.

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  • During a volatile session, markets closed with mixed results, as investors digested a mix of hawkish comments by central bank officials, upbeat corporate earnings reports, positive macro data (e.g. consumer confidence in the eurozone) and a good showing by incumbent French President Macron at a TV debate against FN Le Pen.
  • Fed President Jerome Powell said that a 50 pb hike in the policy rate will be “on the table” at the next Fed meeting on May 3-4. In Europe, ECB VP Luis de Guindos noted that he supports ending net asset purchases in July, a move that would pave the way for policy rate hikes thereafter.
  • In this context, sovereign bond yields rose notably in the US and across Europe, with the 10-year German bund nearing the 1% level. Stocks rose in Europe but fell in the US, while the EUR weakened against the USD.
  • Today, the key focus will be on the flash PMI reports for April across advanced economies.
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