Financial Markets Daily Report20 April 2022
Financial markets started the week with mixed results, as investors weighted out positive corporate earnings results with downward revisions in the growth economic outlook and a new round of hawkish commentary by some Fed officials (Charles Evans from the Chicago Fed and James Bullard from St. Louis).
- Financial markets started the week with mixed results, as investors weighted out positive corporate earnings results with downward revisions in the growth economic outlook and a new round of hawkish commentary by some Fed officials (Charles Evans from the Chicago Fed and James Bullard from St. Louis).
- In its latest World Economic Outlook, the IMF cut its global GDP growth forecasts by 0.8 pp to 3.6% in 2022 and by 0.2 pp to 3.6% in 2023, citing the impact of the conflict in Ukraine and building inflationary pressures.
- In this context, sovereign bond yields extended its upward movements across the board, while equity prices rebounded in the US but fell across Europe and emerging markets. Gas prices in Europe went down, amid warmer weather and expectations among traders that Russia could delay a request for ruble payment for gas shipments.
- In the calendar today, the key data releases include industrial production and exports for February in the eurozone.