Financial Markets Daily Report 17 March 2021
Investors traded in a positive mood yesterday as the European stock market rose 0.6% on the back of good earnings reports and positive soft data. In Germany, the ZEW business expectations index rose to 71.2 in March from 61.8 in February, its highest level in months. Euro area periphery sovereign yields widened slightly.
- Investors traded in a positive mood yesterday as the European stock market rose 0.6% on the back of good earnings reports and positive soft data. In Germany, the ZEW business expectations index rose to 71.2 in March from 61.8 in February, its highest level in months. Euro area periphery sovereign yields widened slightly.
- In the U.S., investors were more cautious as they await the conclusions from the ongoing Fed meeting which ends today. The S&P 500 ended a 5-day rise to drop 0.2% and Treasury yields were quite stable despite a $24bn auction of 20-year Treasuries, which saw strong demand.
- In commodities, the price of palladium (a precious metal used in catalytic converters) rose more than 4% to its highest level in more than a year. Oil prices slipped on Tuesday after recently rising to one-year peaks, and the price of Brent 0.7% to $68.4.