Financial Markets Daily Report 19 novembre 2020
Investors exhibited a mixed mood in yesterday's session as they pondered on increasing infections and tighter restrictions. Volatility edged up and stocks advanced moderately across Europe and EM, while U.S. equities declined in spite of Pfizer's announcement that it will apply for the FDA emergency authorization of its vaccine within days.
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- Investors exhibited a mixed mood in yesterday's session as they pondered on increasing infections and tighter restrictions. Volatility edged up and stocks advanced moderately across Europe and EM, while U.S. equities declined in spite of Pfizer's announcement that it will apply for the FDA emergency authorization of its vaccine within days.
- In FX markets, safe-haven currencies such as the JPY appreciated mildly, while the GBP continued to recover some lost ground amid ongoing brexit negotiations.
- Fixed-income markets were little changed in a light economic calendar day. U.S. and German 10-year sovereign yields nudged up by 1bp while euro area peripheral spreads were stable.
- In oil markets, Brent oil prices rose above $44 amid speculation that OPEC and its allies will delay a planned increase in production when they meet in early December (output cuts are supposed to decline to 5.8 million bpd in January).