Financial Markets Daily Report 25 gener 2021
Markets ended the week on a cautious note as investors worried over deteriorating pandemic dynamics (compounded by news suggesting that the British strain of the coronavirus could be deadlier) and euro area indicators pointed at a decline in activity in January (the area-wide flash composite PMI nudged down to 47.5 points).
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- Markets ended the week on a cautious note as investors worried over deteriorating pandemic dynamics (compounded by news suggesting that the British strain of the coronavirus could be deadlier) and euro area indicators pointed at a decline in activity in January (the area-wide flash composite PMI nudged down to 47.5 points).
- Volatility edged up and stocks declined across advanced and emerging economies. Cautious investor sentiment also weighed on commodity prices while favoring a mild appreciation of the USD.
- In fixed-income markets, core sovereign yields nudged down. Spreads were little changed in Spain and Portugal but they rose in Italy following speculations that PM Conte may be tempted to seek a snap election.
- This week the focus will be on the Fed's monetary policy meeting as well as on the release of Q4 2020 GDP figures in the U.S. and Europe.