Financial Markets Daily Report 02 diciembre 2021
In yesterday's session investors traded cautiously amid concerns on the new coronavirus variant and mixed economic sentiment data releases. November manufacturing PMIs ticked up in the euro area (58.4) but decreased in Spain (57.1 vs 57.4 in October), China (49.9 vs 50.6) and the U.S. (58.3 vs 58.4).
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- In yesterday's session investors traded cautiously amid concerns on the new coronavirus variant and mixed economic sentiment data releases. November manufacturing PMIs ticked up in the euro area (58.4) but decreased in Spain (57.1 vs 57.4 in October), China (49.9 vs 50.6) and the U.S. (58.3 vs 58.4).
- The update of the OECD Economic Outlook showed downward revisions for global GDP growth in both 2021 and 2022. The organization warned about supply bottlenecks and risk of persistently hight inflation and highlighted the unevenness of the recovery, among advanced economies but also between countries with different vaccination rates.
- In this context, equities advanced in Europe and in most emerging economies but declined in the U.S. Yields on sovereign bonds edged up in the euro area, with peripheral spreads widening, and decreased in the U.S. In FX markets, the U.S. dollar strengthened against most advanced economies peers and the euro fluctuated above $1.13.