Financial Markets Daily Report09 February 2021
Investors started the week on a positive note. Stocks rose across advanced and emerging economies on the back of optimism over the economic outlook. Positive market sentiment also led to higher commodity prices, and Brent oil prices nudged past $60.
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- Investors started the week on a positive note. Stocks rose across advanced and emerging economies on the back of optimism over the economic outlook. Positive market sentiment also led to higher commodity prices, and Brent oil prices nudged past $60.
- In fixed-income markets, sovereign yields closed the session little changed both in the U.S. and Europe, but Italy's risk premium continued to narrow as leaders from M5S and LN hinted their parliamentary support to a new government led by Mario Draghi (who this week continues to hold talks with political parties to form a coalition government).
- On the data front, German industrial production stagnated in December and remained moderately below its prepandemic activity levels (0.0% mom and -0.7% yoy). Separately, ECB President Lagarde pointed that underlying inflation is likely to remain subdued and reiterated that an accommodative monetary policy stance remains essential.