Financial Markets Daily Report 21 June 2022
Investors started the week trading cautiously optimistic, in a session characterized by low volumes due to a holiday in the US and no major macro data releases.
- Investors started the week trading cautiously optimistic, in a session characterized by low volumes due to a holiday in the US and no major macro data releases.
- Speaking in the EU Parliament, ECB president Lagarde reiterated a plan to hike policy rates in July and in September, while adding that a new anti-fragmentation tool will be deployed soon. She was upbeat about the growth outlook, noting that conditions are in place for the eurozone to continue to recover further over the medium term.
- In this context, sovereign bond yields rose across Europe while equity prices moved higher, led by energy stocks. In commodity markets, the price of a barrel of Brent rose modestly, as worries about a global recession eased.
- In the calendar today, existing home sales for May are released in the US. A number of Fed officials (Cleveland Fed President Mester and Richmond Fed President Barkin) are also due to deliver speeches.