Financial Markets Daily Report

Financial Markets Daily Report
14 September 2021

Markets started the week on a moderately positive note. In a session with no major economic releases, volatility declined, stocks rose moderately across advanced economies, and EM equities were mixed.

FMDR
  • Markets started the week on a moderately positive note. In a session with no major economic releases, volatility declined, stocks rose moderately across advanced economies, and EM equities were mixed.
  • In fixed-income markets, sovereign yields were little changed across the U.S. and the euro area. ECB's board member Isabel Schnabel said that inflation will ease next year "in all likelihood" and reiterated that the ECB is in no rush to tighten policy. In the U.S., FOMC officials have entered the blackout period ahead of next week's meeting.
  • Market-based inflation expectations continued to recover in Europe. The 5Y5Y forward reached 1.78% (a 4-year high).
  • FX markets were mixed. The euro was stable at $1.18 while the USD rose moderately against most Asian currencies but weakened against Latam ones.
  • Today the focus will be on the release of U.S. August CPI inflation figures.
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