Financial Markets Daily Report 29 June 2020
Markets were mixed in the last session of the week as investors looked for direction.
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- Markets were mixed in the last session of the week as investors looked for direction. European and Asian stocks declined moderately, while in the U.S. the increase in new coronavirus infections led to higher risk aversion, pushing stocks and sovereign yields down.
- In fixed-income markets, euro area sovereign yields were little changed as ECB President Christine Lagarde said that the euro area is probably past the worst of the economic slump caused by the pandemic. Nevertheless, she cautioned that the economic recovery would be "uneven", "incomplete" and "transformational".
- This week the focus will be on the release of June economic indicators (e.g., Eurozone PMIs and inflation figures, U.S. sentiment and labor market data) as well as on the accounts of the Fed's June monetary policy meeting. In Spain, INE will release its final estimate for Q1 GDP figures.