Financial Markets Daily Report 09 octubre 2020
Volatility declined and markets favored risk assets in a light economic calendar day. Stocks rose across advanced and emerging economies as investors focused on the prospects of a new fiscal package in the U.S. and the release of the accounts of the ECB's September meeting.
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- Volatility declined and markets favored risk assets in a light economic calendar day. Stocks rose across advanced and emerging economies as investors focused on the prospects of a new fiscal package in the U.S. and the release of the accounts of the ECB's September meeting.
- Euro area sovereign yields declined as the ECB accounts underscored a cautious view of the economic outlook. They highlighted a wide range of risks –from higher infections to precautionary savings and the euro exchange rate appreciation (showing a higher degree of agreement than had been suggested by post-meeting comments).
- Elsewhere, BoE Governor Bailey said that risks to the UK economy were "very much on the downside" and that the BoE was ready to use its firepower.
- Brent oil prices rose above $43 as Hurricane Delta approached the Gulf of Mexico and started to disrupt production.