Financial Markets Daily Report 03 desembre 2020
Yesterday's trading session was dominated by news that Democratic congressional leaders in the US expressed support for a $908bn additional stimulus plan proposed by a bipartisan group of US senators. The US Treasury yield curve steepened, with the difference between yields on 10-year bonds and 2-year bonds reaching a 3-year high.
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- Yesterday's trading session was dominated by news that Democratic congressional leaders in the US expressed support for a $908bn additional stimulus plan proposed by a bipartisan group of US senators. The US Treasury yield curve steepened, with the difference between yields on 10-year bonds and 2-year bonds reaching a 3-year high.
- The UK became the first country to approve a Covid-19 vaccine, and the BioNTech/Pfizer shot should be available as of next week. Meanwhile, ongoing Brexit negotiations are struggling to reach a conclusion with little time to spare before the UK leaves the EU on January 1, 2021. The FTSE 100 rose 1.2%.
- In Europe, peripheral sovereign bond spreads fell and the Eurostoxx50 edged down 0.1% in a session that favoured financial stocks.
- In oil markets, the price of the barrel of Brent rose 1.8% on hopes of further fiscal stimulus in the US.