Financial Markets Daily Report
11 març 2021

Stocks rose across the board as Biden's $1.9tn fiscal package won final approval in the U.S. Congress and CPI data calmed inflation worries. In particular, U.S. CPI inflation rose to 1.7% yoy in February but core inflation nudged down to 1.3% (see our take and why we expect inflation to be under the spotlight in the coming months here).

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  • Stocks rose across the board as Biden's $1.9tn fiscal package won final approval in the U.S. Congress and CPI data calmed inflation worries. In particular, U.S. CPI inflation rose to 1.7% yoy in February but core inflation nudged down to 1.3% (see our take and why we expect inflation to be under the spotlight in the coming months here).
  • In fixed-income markets, sovereign yields declined both in the U.S. and in euro area core and peripheral countries, while in FX markets the USD continued to weaken.
  • In oil markets, Brent oil prices advanced on the back of positive market sentiment. The weekly release of the U.S. Department of Energy showed that crude oil inventories increased by 13.8 million barrels last week – standing at about 6% above their 5-year average for this time of the year.
  • Today the focus will be on the ECB's monetary policy meeting (see what to expect here).
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