Financial Markets Daily Report

Financial Markets Daily Report
19 November 2021

Inflation remained the key focus of investors on Thursday, following comments by Fed and IMF officials that the rebound in prices might be more broad based and "sticky".

FMDR
  • Inflation remained the key focus of investors on Thursday, following comments by Fed and IMF officials that the rebound in prices might be more broad based and "sticky".
  • In this context, stock indices declined in the euro area but edged up in the U.S. following positive corporate news announcements in the technology sector. In fixed-income markets, yields on sovereign bonds declined in the euro area and peripheral spreads narrowed.
  • In emerging economies, the focus was on the Central Bank of Turkey, which cut its official interest rate by 100 bp to 15%, despite inflation being around 19%. The rate cut weakened even more the Turkish lira against the U.S. dollar, which reached a minimum level above 11.
  • In energy markets, gas prices increased modestly and the barrel of Brent fluctuated above $81.
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FMDR