Financial Markets Daily Report28 maig 2021
Financial markets recorded another day with positive results, following the release of solid economic data in the U.S.: new jobless weekly claims fell to a new pandemic-era low and core capital goods orders rose by 2.3% in April, in both cases above expectations. U.S. Treasury Secretary Yellen also reiterated that the rise in inflation should be transitory.
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- Financial markets recorded another day with positive results, following the release of solid economic data in the U.S.: new jobless weekly claims fell to a new pandemic-era low and core capital goods orders rose by 2.3% in April, in both cases above expectations. U.S. Treasury Secretary Yellen also reiterated that the rise in inflation should be transitory.
- The upswing continued to favour stocks more associated with the economic cycle (industrial, financial and energy) while tech stocks fell modestly. Oil prices also went up, regaining some of the losses in previous sessions. In the bond market, the bullish sentiment on growth reflected on a rise of sovereign bond yields across the board.
- For today session the key data releases are the EU Commission’s economic sentiment indicators for May and the PCE inflation for April in the U.S. (the consensus among analysts expect the core PCE inflation to jump close to 3% y/y, well above the Fed target).