Financial Markets Daily Report06 April 2022
Investors traded with a risk-off sentiment during a volatile session on Tuesday, weighting in a potential ban on Russian coal exports by the EU and taking on board a new round of hawkish commentary from the Fed. The minutes of the March meeting will be released by the Fed later today.
- Investors traded with a risk-off sentiment during a volatile session on Tuesday, weighting in a potential ban on Russian coal exports by the EU and taking on board a new round of hawkish commentary from the Fed. The minutes of the March meeting will be released by the Fed later today.
- Fed Governor Brainard said the central bank will aim to control inflation by raising interest rates steadily and reducing the balance sheet at a rapid pace as soon as May.
- On the data front, the final services PMI for the eurozone was revised higher (55.6 in March) while in the US the ISM services improved. Both surveys, however, suggested inflationary pressures are firming up.
- In this context, sovereign bond yields rose notably in both sides of the Atlantic while equity prices went down. The EUR depreciated against the USD and commodity prices hovered around recent levels.