Financial Markets Daily Report

Financial Markets Daily Report
02 febrer 2022

Investors continued to trade with a positive mood on Tuesday, with solid corporate earnings reports outweighing hawkish signals from central bankers and higher-than-expected inflation prints.

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  • Investors continued to trade with a positive mood on Tuesday, with solid corporate earnings reports outweighing hawkish signals from central bankers and higher-than-expected inflation prints.
  • In Europe, French HICP inflation was above consensus expectation (3.3% y/y after 3.4%), which, after similar trends in Germany and Spain, pointed to upside risks to the eurozone inflation reading (to be released today).
  • In sovereign debt markets, the inflation prints reflected in a further rise in bond yields, with the German 10-year Bund closing at 0,04% (highest since May 2019). The EUR appreciated modestly against its peers.
  • Equity prices rose across the board, in the US supported by positive corporate results from tech giants. Fed officials (Philadelphia) Harker and (San Francisco) Daly throw their support for a hike in interest rates as soon as March.
  • Today the OPEC+ group meets to decide their output strategy, with the Brent price above 90 US$/barrel.
     
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