Financial Markets Daily Report 21 septiembre 2022
Yesterday financial markets recorded a highly volatile session after Russia announced a plan to hold a referendum in the occupied regions in Ukraine this weekend. Investors also dialed up their expectations of tighter monetary policy from central banks, after the Swedish Riksbank surprised with a 100bp hike.
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- Yesterday financial markets recorded a highly volatile session after Russia announced a plan to hold a referendum in the occupied regions in Ukraine this weekend. Investors also dialed up their expectations of tighter monetary policy from central banks, after the Swedish Riksbank surprised with a 100bp hike.
- In Europe, Christine Lagarde said that if there is a risk of inflation expectations de-anchoring, the terminal rate for official interest rates could rise into the restrictive territory. In the US, today the Federal Reserve will probably hike interest rates by 75bp and release a more hawkish dot plot.
- In this context, yields on sovereign bonds rose markedly in the euro area and to a lesser extent in the US and stock indices declined. In commodity markets, European gas prices rose while oil Brent prices declined amid concerns of lower global demand.