Financial Markets Daily Report

Financial Markets Daily Report
10 diciembre 2020

Markets ended mixed after a more cautious session. Volatility nudged up and European and EM stocks were mixed, while weakness in some technology shares dragged down U.S. stocks.

FMDR
  • Markets ended mixed after a more cautious session. Volatility nudged up and European and EM stocks were mixed, while weakness in some technology shares dragged down U.S. stocks.
  • In FX markets, the GBP appreciated modestly after a dinner between PM Boris Johnson and EC President Ursula Von der Leyen ended without a brexit breakthrough. The two leaders said that talks will continue in the next days.
  • Sovereign yields and euro area peripheral spreads were little changed ahead of today's ECB monetary policy meeting, in which we expect the ECB to extend PEPP asset purchases both in time and in size and to prolong TLTRO's favorable funding conditions.
  • On the political front, Polish officials signaled that a compromise for Hungary and Poland to lift their veto over the EU budget might be within close reach ahead of the European Council that will begin today.
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FMDR