Financial Markets Daily Report 05 November 2021
In yesterday's session, investors traded with an optimistic mood as they digested the Fed's decision to initiate the tapering of net asset purchases this month and the dovish confirmation that it will keep its policy interest rates unchanged for the foreseeable future.
- In yesterday's session, investors traded with an optimistic mood as they digested the Fed's decision to initiate the tapering of net asset purchases this month and the dovish confirmation that it will keep its policy interest rates unchanged for the foreseeable future.
- In addition, the Bank of England kept the interest rate unchanged, against expectations of several analysts of a rate hike (2 out 9 members voted for a 15bp increase). Separately, in the Czechia the CNB raised its rate by 125bp to 2.75%.
- In this context, stock indices rose modestly across the board and yields on sovereign bonds declined across Europe and in the US. The price of the barrel of Brent declined following the OPEP+ decision to increase production in December by 0.4 million barrels per day, in line with expectations.
- Today the focus will be on October's employment report in the US.