Financial Markets Daily Report 10 March 2021
Investors traded in a positive mood as the OECD signaled a brighter economic outlook. According to its updated forecasts, the world economy is set to grow by 5.6% and 4.0% in 2021 and 2022. The OECD estimates that spillovers from the U.S. fiscal stimulus will add more than 1pp to global growth.
- Investors traded in a positive mood as the OECD signaled a brighter economic outlook. According to its updated forecasts, the world economy is set to grow by 5.6% and 4.0% in 2021 and 2022. The OECD estimates that spillovers from the U.S. fiscal stimulus will add more than 1pp to global growth.
- Stock markets rose across the board, even though the rotation into cyclical equities eased and dip-buyers fueled a rebound in tech-stocks from their recent lows.
- In fixed-income markets, sovereign yields pulled back both in the U.S. and the euro area. In FX markets, the USD retreated and the euro fluctuated around $1.19.
- On the data front, Eurostat updated its Q4 2020 GDP estimates for the euro area (-0.7% qoq and -4.9% yoy vs. previous estimates of -0.6% qoq and -5.0% yoy).