Financial Markets Daily Report 05 octubre 2020
Investors traded on a cautious note in the last session of the week. Amid lower risk appetite, volatility rose, stocks declined across the board (particularly so in the U.S.), safe-haven currencies (such as the JPY and the USD) strengthened and commodity prices fell (the barrel of Brent dipped below $40).
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- Investors traded on a cautious note in the last session of the week. Amid lower risk appetite, volatility rose, stocks declined across the board (particularly so in the U.S.), safe-haven currencies (such as the JPY and the USD) strengthened and commodity prices fell (the barrel of Brent dipped below $40).
- In fixed-income markets, the U.S. sovereign yield curve steepened. Yields on European core sovereign bonds were little changed and euro area peripheral spreads declined.
- On the data front, U.S. employment grew at a more moderate pace in September (nonfarm payrolls: +661k after +1.5 million in August) while the unemployment rate declined from 8.4% to 7.9%. In Europe, euro area inflation continued to post weak figures (headline inflation -0.3% yoy in September and core inflation +0.2%).
- This week the focus will be on the release of the accounts of the September Fed and ECB meetings.