Financial Markets Daily Report 07 febrer 2022
In the last session of the week investors focused on the increasing bets for a tightening of monetary policy across advanced economies and the better-than-expected corporate earnings releases.
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- In the last session of the week investors focused on the increasing bets for a tightening of monetary policy across advanced economies and the better-than-expected corporate earnings releases.
- In the US, the January employment report showed an increase of +467k in non-farm payrolls (which surprised the consensus after the ADP survey pointed last week to a net job destruction). Non-farm payrolls for December were revised substantially higher from +199k to +510k and the unemployment rate ticked up to 4.0%.
- In this context, stock indices rose in the US, especially the tech heavy Nasdaq, while equities declined in most euro area countries. In fixed-income markets, yields on sovereign rose substantially across the board and euro area peripheral spreads widened.
- This week the focus will be on January US CPI figures (Thu.) and the European Commission winter forecasts (Thu.).