Financial Markets Daily Report 24 November 2020
Economic sentiment data and new advances in a vaccine treatment for COVID-19 were the main drivers of a mixed session in financial markets. On the one hand, the University of Oxford and AstraZeneca Plc said that their vaccine prevented 70% of the participants from falling ill. This effectiveness rises to 90% with an alternative treatment.
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- Economic sentiment data and new advances in a vaccine treatment for COVID-19 were the main drivers of a mixed session in financial markets. On the one hand, the University of Oxford and AstraZeneca Plc said that their vaccine prevented 70% of the participants from falling ill. This effectiveness rises to 90% with an alternative treatment.
- On the other hand, November PMIs declined in the euro area (Composite 45.1 vs 50.0 in Oct.). The services indices were particularly affected by the spread of the second wave and the lockdown measures. In the US, the November flash release beat expectations and registered the highest level since April 2015 (Comp. 57.9 vs 56.3 in Oct.).
- In this context, stock indices were mixed and yields on sovereign bonds were barely unchanged in the euro area and rose in the US. Elsewhere, the sterling pound strengthened as Brexit negotiations advance and the price of the barrel of Brent fluctuated above $46, a level not seen since early March.