Financial Markets Daily Report 08 març 2021
Investors traded in a mixed mood in the last session of the week. While European and emerging-market equities declined across the board, U.S. stocks bounced back from losses on the back of stronger-than-expected labor market data (nonfarm payrolls + 379k in February) and their turnaround reversed last week’s losses in the S&P 500.
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- Investors traded in a mixed mood in the last session of the week. While European and emerging-market equities declined across the board, U.S. stocks bounced back from losses on the back of stronger-than-expected labor market data (nonfarm payrolls + 379k in February) and their turnaround reversed last week’s losses in the S&P 500.
- In fixed-income markets, long-term sovereign yields nudged up both in the U.S. and in Europe. In FX markets the USD strengthened against most currencies and the euro fluctuated below $1.20.
- In oil markets, Brent oil prices rose towards $70 as investors continued to digest the decision by OPEC and its allies not to increase supply in April.
- At the end of last week, Chinese officials announced a target for 2021 GDP growth of "over 6%". This week the focus will be on the ECB's monetary policy meeting as well as on the release of U.S. February inflation figures.