Financial Markets Daily Report 01 octubre 2020
Markets ended the month in a mixed session, as European stocks fell and the S&P 500 recovered from the previous day's losses. Safe haven bond yields rose and the dollar appreciated against the euro.
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- Markets ended the month in a mixed session, as European stocks fell and the S&P 500 recovered from the previous day's losses. Safe haven bond yields rose and the dollar appreciated against the euro.
- In the U.S., hopes of further fiscal stimulus fuelled a rebound in the S&P 500, which rose 0.8 percent as Steven Mnuchin, U.S. Treasury Secretary, suggested "a reasonable compromise" could be agreed.
- In Europe, the Eurostoxx50 dipped 0.6% and yields on German bonds tightened slightly as Christine Lagarde stated in a speech that the ECB should temporarily overshoot its inflation target to compensate for a long period of low inflation. Spanish bond yields were relatively unchanged as the IMF warned of the potential impact of a second wave.
- The Tokyo Stock Exchange had to halt trading during the whole day due to a system error on a critical day of economic data releases including the Tankan survey.