Financial Markets Daily Report30 March 2021
Markets were mixed in the first session of the week. Stocks advanced in Asia and Europe but retreated in the U.S, where financials weighed on the main benchmarks as investors assessed potential losses from their exposure to Archegos Capital Management, a hedge fund that had failed to meet margin calls.
- Markets were mixed in the first session of the week. Stocks advanced in Asia and Europe but retreated in the U.S, where financials weighed on the main benchmarks as investors assessed potential losses from their exposure to Archegos Capital Management, a hedge fund that had failed to meet margin calls.
- In fixed-income markets, sovereign yields nudged up both in the U.S. and the euro area even as Fed Governor Christopher Waller reiterated that the Fed is "a long way from raising interest rates". In FX markets, the USD strengthened moderately and the euro fluctuated below $1.18.
- In commodity markets, Brent oil prices rose amid reports that Russia will support stable oil output from OPEC+.
- On the data front, the ECB's weekly pace of net PEPP purchases was reported to have decelerated from €21bn to €19bn last week. More detailed data, including redemptions, will be released today.