Financial Markets Daily Report

Financial Markets Daily Report
08 September 2021

Financial markets ended the day with mixed results, as investors balanced fears about lingering supply constraints and pandemic-related risks with expectations that monetary policy will remain accommodative.

FMDR
  • Financial markets ended the day with mixed results, as investors balanced fears about lingering supply constraints and pandemic-related risks with expectations that monetary policy will remain accommodative.
  • In Europe, weak sentiment data in Germany (the ZEW expectations index dropped from 40.4 to 26.5 in September, the lowest since March 2020) triggered across-the-board declines in equity prices as well as some widening in sovereign spreads in the periphery.
  • In FX markets, the USD appreciated modestly against the EUR, as rising US Treasury yields prompted investors to cut short dollar positions against the single currency before the ECB meeting this week.
  • The economic calendar today features policy meetings by the central banks in Canada and Poland. In addition, a number of Fed speakers are due to deliver speeches this afternoon. 
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FMDR