Financial Markets Daily Report

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Developed stock markets registered solid gains during the last day of the week, with stronger increases in Europe.

Yesterday, stock markets rallied around the world while 10-year sovereign yields remained stable in the U.S. and declined in the Euro Area (particularly so in the periphery countries).

Yesterday, stock markets recorded widespread gains in the U.S. and Europe, while long-term sovereign yields nudged down.

In the first trading session of the year, stock markets rose in the U.S. and they were mixed in Europe, declining in core countries and advancing in the Euro Area periphery.

U.S. and European stock markets declined in the last trading session of 2017.

Stock markets advanced in the U.S. and experienced a generalized decline in Europe, while sovereign yields picked up both in the U.S. and the Euro Area.

As usual, trading volumes thinned after the Christmas holiday.

In the last trading session before Christmas, stock markets declined and long-term sovereign yields remained stable (with the exception of Portugal, whose risk premium undid part of the week's strong decline as investors are still calibrating the implications of the improved sovereign rating)

International stock markets closed on a positive note yesterday with slight increases both in Europe and in the U.S. while yields in sovereign bond markets remained relatively stable.

International stock markets were mixed with stronger declines in Europe and slighter decreases in the U.S., suggesting investors consider the effect of the tax reform is sufficiently priced in.

Slight declines in most developed stock markets, undoing part of Monday’s increases, as investors remained sensitive to news about the U.S. tax reform.

Equity markets have started the week in a very enthusiastic manner amid optimism that U.S. legislators are on the brink of passing the tax reform.