Financial Markets Daily Report 09 julio 2020
In yesterday's session, investors traded cautiously in Europe as the European Commission's downbeat economic projections still weighed on sentiment.
- In yesterday's session, investors traded cautiously in Europe as the European Commission's downbeat economic projections still weighed on sentiment. In the U.S., mild signs of economic recovery offset concerns over the increase in COVID-19 cases around the country.
- In this context, stock indices declined in most euro area trading floors and rose in the U.S., where the Nasdaq reached a new record high. In emerging economies, the Shanghai index advanced for the seventh day in a row.
- In fixed-income markets, euro area sovereign yields were little changed after ECB President Christine Lagarde hinted that the ECB will be on a wait-and-see mode in the coming months. In the U.S., 10-year Treasury yields rose by 2bp.
- In oil markets, the price of the barrel of Brent edged up modestly despite the increase in U.S. crude inventories (+5654k barrels from the previous week, while the consensus expected a -3188k decline).