Financial Markets Daily Report

Financial Markets Daily Report
30 September 2021

Yesterday markets steadied after a few mixed sessions. Volatility nudged down and European stocks rebounded, while U.S. equities posted moderate gains.

FMDR
  • Yesterday markets steadied after a few mixed sessions. Volatility nudged down and European stocks rebounded, while U.S. equities posted moderate gains.
  • Sovereign yields nudged down in the U.S. and were little changed in the euro area. In the ECB's Sintra forum, Fed Chair Powell and ECB President Lagarde voiced concerns about the uncertain end of supply bottlenecks.
  • In FX markets, the USD continued to strengthen against most AE and EM currencies. The euro declined to $1.16, a one-year low.
  • On the data front, Spain's inflation jumped to its highest level since 2008 (see our take here). Figures released this morning in China showed a rebound in non-manufacturing sentiment in September (non-manufacturing PMI at 53.2 points from 47.5 in August) while manufacturing activity remained subdued (49.6 points).
     
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