Financial Markets Daily Report 25 novembre 2021
A mixed session for financial markets packed with economic data releases ahead of a holiday in the US today (Thanksgiving Day).
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- A mixed session for financial markets packed with economic data releases ahead of a holiday in the US today (Thanksgiving Day).
- US data showed new jobless claims surprised by falling to a 52-year low last week (199k) while the PCE inflation rose to 5% in October, confirming widening inflationary pressures. In Germany, the IFO business climate index deteriorated further in November (96.5 from 97.7), suggesting the economy is stalling at the end of the year.
- Separately, minutes of the Fed’s last policy meeting unveiled that a growing number of FOMC members would be open to speeding up the tapering process if high inflation persist and, therefore, move more quickly to raise interest rates. Today the ECB will release the minutes of the October meeting.
- In this context, stocks were mixed, bond yields hovered around recent levels while the EUR depreciated further.