Financial Markets Daily Report 29 March 2021
Markets ended the week with a risk-on session on Friday. Stocks rose across advanced and emerging markets, sovereign yield curves steepened and commodity prices advanced, while in FX markets the USD was roughly flat against major currencies.
- Markets ended the week with a risk-on session on Friday. Stocks rose across advanced and emerging markets, sovereign yield curves steepened and commodity prices advanced, while in FX markets the USD was roughly flat against major currencies.
- In Europe, euro area peripheral spreads nudged down while the euro fluctuated marginally below $1.18.
- On the data front, Germany's economic sentiment improved in March according to the Ifo's business climate index (96.6 points, a 21-month high). In Spain, INE revised its 2020 GDP estimates – showing a slightly smaller contraction in the year as a whole (-10.8% vs an initial estimate of -11.0%) but a stagnant economy in Q4 (prev. est.: +0.4% qoq).
- This week the focus will be on the release of sentiment activity indicators in several advanced economies as well as on the U.S.' March labor market report and the euro area's March flash inflation figures.