Financial Markets Daily Report10 juny 2021
In yesterday's session, investors traded cautiously ahead of today's U.S. CPI data for May (Bloomberg consensus expects +4.7% yoy) and the ECB monetary policy meeting (the focus will be on the updated macro projections and on the pace of net asset purchases under the PEPP, which will probably remain unchanged at 80bn per month).
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- In yesterday's session, investors traded cautiously ahead of today's U.S. CPI data for May (Bloomberg consensus expects +4.7% yoy) and the ECB monetary policy meeting (the focus will be on the updated macro projections and on the pace of net asset purchases under the PEPP, which will probably remain unchanged at 80bn per month).
- In China, inflationary concerns gained momentum as the producer price inflation (PPI) rose to a 12-year high of 9.0% in May (+6.8% in April).
- In this context, stock indices edged down in the U.S. and were mixed in the euro area. In fixed-income markets, sovereign yields declined and the 10-year U.S. Treasury yield traded below 1.50%, a level not seen since early March.
- In oil markets, the price of the barrel of Brent was barely unchanged around $72 despite that U.S. crude oil inventories declined by 5,2m last week (consensus expected a fall of -2,9m).